AUD/USD extends corrective pullback from 18-month lows, pre-RBA optimism buoys Aussie
AUD/USD recovery lacks traction. Major trend remains bearish.
Break above 5-DMA could see some upside. Breakout above daily cloud will change near-term dynamics.
Technical Analysis:
AUD/USD trades well below daily cloud and major moving averages
Momentum is strongly bearish and volatility is high
Price action is consolidating break below 200-week MA
MACD and ADX support weakness in the pair
DISCLAIMER: ((trade based on your own decision ))
AUD/USD recovery lacks traction. Major trend remains bearish.
Break above 5-DMA could see some upside. Breakout above daily cloud will change near-term dynamics.
Technical Analysis:
AUD/USD trades well below daily cloud and major moving averages
Momentum is strongly bearish and volatility is high
Price action is consolidating break below 200-week MA
MACD and ADX support weakness in the pair
DISCLAIMER: ((trade based on your own decision ))