Short AUD/USD break below 0.7442, target 0.9396
AUD/USD price action capped below 100-DMA at 0.7478, intraday bias lower.
Technical indicators on weekly charts are heavily bearish, scope for more downside.
On the daily charts, downside has held major trendline support at 0.7445. Weakness only on break below.
Momentum studies are bearish, scope for test of 200-DMA at 0.7396.
Violation there could take the pair to 0.7285 levels.
Bearish invalidation only above 20-DMA at 0.7571.
Technical indicators on weekly charts are heavily bearish, scope for more downside.
On the daily charts, downside has held major trendline support at 0.7445. Weakness only on break below.
Momentum studies are bearish, scope for test of 200-DMA at 0.7396.
Violation there could take the pair to 0.7285 levels.
Bearish invalidation only above 20-DMA at 0.7571.
Comment:
Typo in the title : target 0.7396 (not 0.9396)