Aussie bearish trend, Potential Test Area Ke 0.6950

Bias for AUDUSD still likely bearish as price is still below the signal MA 50-100-200 in the 4 hours chart. But in the short term we may see a rebound due Stohastic visible indicator will go up from the oversold area. Economic data that must be considered is data Building Approval and interest from Australia as well as manufacturing data from China.

To the downside, immediate support seen at 0.7080 area, to penetrate to the bottom of the zone price should get to the bearish pressure testing 0.7035 area before aim for 0.6950 strong support area. Meanwhile to the upside, immediate resistance levels seen at 0.7140 area, breaking through to the top of the zone rates can be bullish in the short term to test the 0.7190 area before targeting to an area of key resistance at 0.7280.


Resistance levels: 0.7140, 0.7190, 0.7280
Support levels: 0.7080, 0.7035, 0.6950