- AUD/USD is currently chipping away at the trendline connecting the Nov. 13 and Nov. 27 low.
- A close below that level would confirm that the pair has topped out at the 200-day MA on Dec. 3 and would open the doors for a deeper drop to 0.71.
- The 14-day relative strength index (RSI) has dropped into bearish territory below 50.00 and the 5-day and 10-day moving averages (MAs) are beginning to slope downwards. So, the pair could close below the key trendline support today.
- The breakdown, however, may happen after a minor bounce as the RSI on both the hourly and 4-hour chart is reporting oversold conditions.
Daily chart
-636796657028559395.png)
Trend: Bearish
AUD/USD
Overview:
Today Last Price: 0.7221
Today Daily change: -48 pips
Today Daily change %: -0.660%
Today Daily Open: 0.7269
Trends:
Previous Daily SMA20: 0.7267
Previous Daily SMA50: 0.7185
Previous Daily SMA100: 0.724
Previous Daily SMA200: 0.7416
Levels:
Previous Daily High: 0.7356
Previous Daily Low: 0.7259
Previous Weekly High: 0.7345
Previous Weekly Low: 0.7199
Previous Monthly High: 0.7345
Previous Monthly Low: 0.7072
Previous Daily Fibonacci 38.2%: 0.7296
Previous Daily Fibonacci 61.8%: 0.7319
Previous Daily Pivot Point S1: 0.7233
Previous Daily Pivot Point S2: 0.7198
Previous Daily Pivot Point S3: 0.7136
Previous Daily Pivot Point R1: 0.733
Previous Daily Pivot Point R2: 0.7392
Previous Daily Pivot Point R3: 0.7428
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