AUDUSD – negative outlook while falling 20SMA caps
|The Aussie dollar stands at the back foot on Friday, with upside being repeatedly capped by falling 20SMA (0.7528) and fresh weakness probing through hourly cloud (0.7519/0.7497).
Initial bearish signal is generating on formation of 1/10SMA bear-cross as near-term recovery from 0.7447 higher base stalled at 0.7497 and closed below 20SMA.
Stronger dollar also keeps the pair under pressure, along with overall bearish daily techs, but the notion is partially offset by strengthening momentum.
Close below 10SMA (0.7500) is needed to maintain fresh pressure and open way for further easing.
Conversely, break and close above 20SMA would generate positive signal for retest of key barrier at 0.7565 (Fibo 38.2% of 0.7812/0.7412 / double upside rejection).
Res: 0.7528; 0.7547; 0.7565; 0.7598
Sup: 0.7497; 0.7472; 0.7447; 0.7433
Interested in AUDUSD technicals? Check out the key levels
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