tayalsmith
Short

AUD/USD hourly analysis

FX_IDC:AUDUSD   Australian Dollar / U.S. Dollar
8 0 0
The primary trend of AUD/USD             is bearish on charts and price is sustaining below trend line in its hourly chart. In hourly chart the price is sustaining below 50 day SMA and taking resistance of 200 day SMA indicating downtrend of the pair.

It is having an important resistance at the level of 0.7130 and support at the level of 0.7145. 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.

RSI is also sustaining in its selling zone indicating the bearish trend in the pair.

STRATEGY: AUD/USD             is looking bearish on charts for next few trading session. One can go for sell on higher level strategy for this pair for intra day to mid term positions.
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