AUDUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME
Publish Date : 2019/09/26 - 07:07

AUDUSD TECHNICAL ANALYSIS ON DAILY TIMEFRAME


AUD/USD has been in a downward trend since January of 2018 (not shown). Currently, the pair is in the middle of a downward channel since December of 2018 (minus the false breakdown on January 3rd of this year), below the 50 Day Moving Average of .6820 and approaching the August 6th lows at .6750. Support below there comes in at .6700 near the bottom downward sloping trendline of the channel.

The RSI is near oversold levels at 30, however is not below that level. This indicates there could still be room on the downside for AUD/USD to move.

Source:forex.com


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