AUDUSD Technical Analysis: Weekly Chart

In the weekly charts, AUDUSD is trading below its previous upward channel.

It is trading below all SMAs: MA (5), MA (20), and MA (50).

The immediate support is at 0.70256 and the resistance level is at 0.72758

AUDUSD is trading outside and below its previous upward 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 (5), MA (20), and MA (50).

The immediate support is at 0.71172 and the resistance level is at 0.72140

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

How to trade AUDUSD this week:

AUDUSD is trading outside and below its previous upward channel and the following opportunity can be taken:

TRADE SUGGESTION: SELL AT 0.70004, TAKE PROFIT AT 0.68000 AND STOP LOSS AT 0.71554