AUDUSD Technical Analysis: Weekly Chart

In the weekly charts, AUDUSD is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 0.69664 and the resistance level is at 0.75368

AUDUSD is trading in a downward channel until there is a trend reversal.

AUDUSD Technical Analysis: Daily Chart

In the daily charts, AUDUSD is trading in a downward channel.

It is trading below all SMAs: MA (20), MA (50), and MA (100).

RSI is in selling zone which indicates bearishness. MACD is currently trading below zero which indicates bearishness.

The immediate support is at 0.70284 and the resistance level is at 0.71847

AUDUSD is trading in a downward channel until there is a trend reversal.

How to trade AUDUSD this week:

AUDUSD is trading in a downward channel until there is a trend reversal and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 0.68849, TAKE PROFIT AT 0.65026, AND STOP LOSS AT 0.71420