FX.co ★ AUD/USD

We are analyzing the 30-minute chart of AUD/USD. After a sharp decline from the 0.69695 highs, the pair is testing the 0.69238 support zone, trading around 0.69201. The price is below the moving average, which confirms selling pressure. The indicators point to a strong bearish momentum. MACD shows a negative histogram. The smoothed CCI has moved deep into negative territory, and the KST oscillator is heading sharply downward. The nearest resistance is at 0.69238. If it is broken, buyers may count on a move toward 0.69493 and 0.69644. However, for now the bears are in control, and if support at 0.69238 is broken, the decline will continue toward 0.69098 and 0.68863. Wishing everyone successful trades!