In Tuesday's session, the AUD/USD observed slight bearish momentum, declining towards 0.6535. The broader outlook reveals that the bears exhibit a somewhat stronger presence, which could maintain a certain level of pressure on the pair. Bears seem to have taken a breather after declining by nearly 0.84% last Friday, but the outlook is still tilted to the short-term downside.
The Relative Strength Index (RSI) presents a negative landscape on the daily chart. The indicator resides in the negative territory with the latest reading just shy of 47. Although currently avoiding oversold conditions, the slight decline in the index is noticeable indicating a continuation of the bearish momentum if the RSI persists below 50. The Moving Average Convergence Divergence (MACD) lays out rising red bars which tends to suggest a mounting selling pressure.
Turning the attention to an intraday perspective, the hourly chart reveals a similar trajectory but on a tighter scale. The hourly RSI has just dipped below 45, reinforcing a stronger bearish undertone into the most recent session. The MACD histogram further supports this outlook, with its red bars indicating the presence of negative momentum.
Surveying the larger context, the pair is below the 20, 100, and 200-day Simple Moving Averages (SMAs) which is a typical signal that the sellers are in control following last Friday’s losses. Overall, indicators seem to have consolidated in negative territory and might continue sideways trading while markets await fresh drivers. In the meantime, bears hold in command.
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.