The priomary trend of AUD/USD is bearish on charts and prices is forming revesal Head & Shoulder patter in its 4 hourly chart. In 4 hourly chart the price is sustaining below 50 day SMA and taking support of 200 day SMA indicating down trend of the pair.
Resistance level of 0.7390 and Support level of 0.7150
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
STRATEGY: One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.
Resistance level of 0.7390 and Support level of 0.7150
If it breaks its support level on the downside and sustains below it then we can expect it to show further bearish movement in the pair.
INDICATORS:-
MACD is sustaining in its negative territory indicating the bearish trend in the pair.
STRATEGY: One can go for sell on higher level strategy for this pair for intra day to mid term positions in it.