AUD/USD Technical Analysis: Aussie bracing for more downward action

AUD/USD daily chart

AUD/USD is trading in a bear trend below its main simple moving averages (SMAs).

AUD/USD 4-hour chart

AUD/USD is trading below its main SMAs suggesting a bearish bias in the medium-term.

AUD/USD 30-minute chart

AUD/USD is trading below its main SMAs suggesting a bearish bias in the short-term.
0.7070 is seen as the key support to break for Aussie bears. A break below it can see a drop to 0.7055 and 0.7040 level.
Resistances are seen at 0.7090 and 0.7105 levels.

Additional key levels

Mar 28, 2019

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