The AUDUSD pair
was down again on Friday and was trading 0.15 percent lower during the London
session, hovering at around 0.7225.
Bears managed to push the AUDUSD pair back
below the 100-day moving average and the
Aussie is now testing another stronger zone at around 0.7215. If
this level is taken out, further losses toward 0.7150 could occur and the trend
could switch back to bearish.
The RSI uptrend line was already broken
down and so was the actual price trend line, which suggests that bears might be
more active.
On the upside, the resistance is seen at
the 100-day moving average near 0.7240 and if not held, the Aussie might
accelerate toward the broken trend line, which is currently at 0.7265.
Sentiment seems to remain negative as
stocks are dropping again, which might put some bearish pressure on commodity
currencies.
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