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AUD/USD  is looking badly

AUD/USD is looking badly

Updated

4H Chart 

AUDUSD h4.png                                                                                                                                       

Daily Chart 

AUDUSD d1.png

AUD/USD began the week slightly higher reaching as high as 0.7725 before declining earlier today to 0.7690’s. In the meantime, AUD/USD stabilized below its 50 & 100-day MA for the first time since early April, which could mean that the demand is no longer there at the current levels. Therefore, AUD/USD may decline further in the next few days, while any upside move is likely to remain capped below 0.7730’s. On the downside view, the next support area stands at 0.7650’s as it represents its 200-day MA. 

S3

S2

S1

Pivot

R1

R2

R3

0.7647

0.7679

0.7695

0.7711

0.7727

0.7743

0.7775

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