AUDUSD bias Sideways, Beware Support At 0.7035

Bias for the movement of AUDUSD looks sideways with short-term potential seen in the area of 0.7035 (MA 50) - 0.7150 (MA 100) in the 4 hours chart, it is necessary to penetrate one side to get further instructions. However, we estimate the price today would be bearish, especially if it is below the MA 50 as Stochastic indicators are already in overbought area.

To the upside, 0.7150 area before testing for, the price should break above the 0.7090 area, if the price back through to the top of the area of 0.7150, the price can move further upside to test the 0.7240 area. To the downside, 0.7035 area is the nearest support level, penetrate to the bottom of the area get the price further bearish momentum towards 0.6980 area before aim for 0.6900 strong support area

Resistance levels: 0.7090, 0.7150, 0.7240
Support levels: 0.7035, 0.6980, 0.6900