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 0.68160 and the resistance level is at 0.73738

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 above its previous downward channel.

It is trading above MA (20) but below MA (50) and MA (100).

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

The immediate support is at 0.70016 and the resistance level is at 0.71894

AUDUSD is trading above and outside its previous 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 0.67658, TAKE PROFIT AT 0.63835, AND STOP-LOSS AT 0.69852