AUD/USD: bearish continuation expected – FXStreet

By FXStreet FXStreet (Guatemala) – Valeria Bednarik, chief analyst at FXStreet explained that the AUD/USD pair trades near its daily low, with the bearish potential increasing ahead of the US opening as dollar’s demand resurged.

Key Quotes:

“The 1 hour chart shows that the price is extending below its 20 SMA, whilst the technical indicators are turning south around their mid-lines, lacking strength at the time being.

In the 4 hours chart, the technical indicators have resumed their declines near oversold territory, whilst the 20 SMA maintains a strong bearish slope above the current level, all of which supports a bearish continuation.”
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Source:: FX Street