The AUD/USD pair
The AUD/USD pair has failed to close the deals above the level 1.0800. Nevertheless, yesterday the pair passed through the 1.08 level, though for a short time. Further the pair fell to the point 1.0714. These attempts to overcome this zone affected the aussie. The pair is like;y to decline to the support zone 1.0480. On the other hand, the chart indicatest that the pair remains in the range of over 200 pips.
Therefore, a weekly close below 1.0700 can be considered as the beginning of the descendin movement to te area of the 50 periods moving average (red) or to the one of 200 period moving average (blue).
The range indicator and MACD are indicating the overbought market and the possible turn of the trend.
