- AUD/USD takes affords to refresh intraday low, reverses week-start restoration.
- Support break joins bearish MACD indicators, downbeat RSI to maintain sellers hopeful.
- Daily closing beneath 100-DMA seems essential to defend sellers.
AUD/USD stays on the again foot because it renews its intraday low close to 0.6665, reversing the early-week rebound, as bears return to the desk on Tuesday.
In doing so, the Aussie pair cheers the earlier week’s downside break of a one-week-old ascending pattern line, now resistance round 0.6725. The downside bias additionally takes clues from the bearish MACD indicators and the regular RSI.
That mentioned, the 100-DMA stage surrounding 0.6660 challenges the AUD/USD bears by the press time, a break of which may rapidly direct it to the November lows close to 0.6580.
Should the AUD/USD bears hold the reins previous 0.6580, October’s high close to 0.6550 will likely be in focus.
On the flip facet, a day by day closing past the earlier assist line close to 0.6725 turns into obligatory for the AUD/USD consumers to retake management.
Even so, a downward-sloping resistance line from early June, near 0.6870 by the press time, seems a tricky nut to crack for the bulls.
It ought to be noticed that the month-to-month excessive close to 0.6895 and the 0.6900 spherical determine can act as further upside filters earlier than directing AUD/USD in the direction of August month’s excessive close to 0.7135.
AUD/USD: Daily chart
Trend: Further downside anticipated