AUD/USD: Consolidating, but prices remain under pressure
13:05 GMT - The test below critical support at 0.7592/00 has given way to a short-term
AUDUSD
bounce, whilst oversold intraday studies unwind, with prices back in consolidation above 0.7600.
Daily stochastics are also flattening in oversold areas, highlighting a cautious tone, but the Tension Indicator remains bearish and weekly charts are negative, highlighting further downside development in the coming sessions. A later close below 0.7600 will confirm extension of January losses, initially towards 0.7500/15.
Meanwhile, resistance remains at 0.7659.
A close above here, if seen, would turn sentiment Neutral and put prices into fresh consolidation below 0.7700.
AUDUSD
bounce, whilst oversold intraday studies unwind, with prices back in consolidation above 0.7600. Daily stochastics are also flattening in oversold areas, highlighting a cautious tone, but the Tension Indicator remains bearish and weekly charts are negative, highlighting further downside development in the coming sessions. A later close below 0.7600 will confirm extension of January losses, initially towards 0.7500/15.
Meanwhile, resistance remains at 0.7659.
A close above here, if seen, would turn sentiment Neutral and put prices into fresh consolidation below 0.7700.
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