13:05 GMT - The test below critical support at 0.7592/00 has given way to a short-term 
AUDUSD bounce, whilst oversold intraday studies unwind, with prices back in consolidation above 0.7600.
Daily stochastics are also flattening in oversold areas, highlighting a cautious tone, but the Tension Indicator remains bearish and weekly charts are negative, highlighting further downside development in the coming sessions. A later close below 0.7600 will confirm extension of January losses, initially towards 0.7500/15.
Meanwhile, resistance remains at 0.7659.
A close above here, if seen, would turn sentiment Neutral and put prices into fresh consolidation below 0.7700.
AUDUSD bounce, whilst oversold intraday studies unwind, with prices back in consolidation above 0.7600.Daily stochastics are also flattening in oversold areas, highlighting a cautious tone, but the Tension Indicator remains bearish and weekly charts are negative, highlighting further downside development in the coming sessions. A later close below 0.7600 will confirm extension of January losses, initially towards 0.7500/15.
Meanwhile, resistance remains at 0.7659.
A close above here, if seen, would turn sentiment Neutral and put prices into fresh consolidation below 0.7700.
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We are an award winning independent research firm, covering Macroeconomics, Policy and Financial Markets. Our Technical Analysis coverage spans 40 FX pairs across developed and emerging markets. Register for a free trial at continuumeconomics.com
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.