AUD/USD Technical Analysis: Breaking lower with bearish MA cross and triangle breakdown on 1H

AUD/USD has lost 10 odd pips in the last few hours and could see a deeper drop toward the immediate hourly chart support at 0.7116, as the 50- and 200-hour MAs have produced a bearish crossover.
Further, the spot has dived out of the contracting triangle, as seen in the hourly chart, signaling a continuation of the sell-off from the recent high of 0.7206.
The relative strength index (RSI) on the hourly chart is biased bearish with a below-50 print.

Omkar Godbole FXStreet Contributor

Hourly chart

Trend: Bearish

AUD/USD

Overview
Today last price	0.714
Today Daily Change	-0.0011
Today Daily Change %	-0.15
Today daily open	0.7151

Trends
Daily SMA20	0.7128
Daily SMA50	0.7111
Daily SMA100	0.7134
Daily SMA200	0.7188

Levels
Previous Daily High	0.7168
Previous Daily Low	0.7142
Previous Weekly High	0.7206
Previous Weekly Low	0.7136
Previous Monthly High	0.7168
Previous Monthly Low	0.7002
Daily Fibonacci 38.2%	0.7158
Daily Fibonacci 61.8%	0.7152
Daily Pivot Point S1	0.7139
Daily Pivot Point S2	0.7127
Daily Pivot Point S3	0.7113
Daily Pivot Point R1	0.7165
Daily Pivot Point R2	0.718
Daily Pivot Point R3	0.7191

Author

Omkar Godbole

FXStreet Contributor

Omkar Godbole, editor and analyst, joined FXStreet after four years as a research analyst at several Indian brokerage companies.

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