AUDUSD Analysis
1H Timeframe
On the hourly time frame, the price is in a strong downtrend. The large red candle printed during the interest rates announcement by the RBA early this morning shows that sellers control this market.
If the price continues trading lower, the first support is found at S1 around the 0.64197 level and the second at S2 around the 0.63867 level.
With the London session beginning, if the price bounces upwards, there is a strong Resistance Zone between the 0.64720 and 0.64840 areas that can push the price lower. We can look for reversal price action, or we can trade it with a Limit Order
RSI
The RSI on the hourly chart is oversold, which is considered bearish
Todays News
Economic calendar is empty
On the hourly time frame, the price is in a strong downtrend. The large red candle printed during the interest rates announcement by the RBA early this morning shows that sellers control this market.
If the price continues trading lower, the first support is found at S1 around the 0.64197 level and the second at S2 around the 0.63867 level.
With the London session beginning, if the price bounces upwards, there is a strong Resistance Zone between the 0.64720 and 0.64840 areas that can push the price lower. We can look for reversal price action, or we can trade it with a Limit Order
RSI
The RSI on the hourly chart is oversold, which is considered bearish
Todays News
Economic calendar is empty
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