AUDUSD is currently over a year into a downtrend, and the pair has declined precisely 1000 pips from peak to bottom during this time. As of December’s low, Aussie had rebounded, but it was restricted behind a rising wedge, which suggests that the downtrend is likely to resume. It’s possible that AUDUSD may test the 0.7 support level again in the next trading days or weeks, given that the pattern’s trend line support has been breached.
The price line has a pivot point above it at 0.71870, with support at 0.71780 and resistance at 0.72000. Underground of the EMAs of 200 and 100, the EMA of 10 is advancing onward. It seems that both the RSI and MACD are in positive zone, with the signs indicating an upward trend. Both the Stochastic and ADX indicators are indicating an upward trend.
The price is nearly below the Ichimoku Cloud and the Chinkou Span is far away the market price. The Tenkan-sen and the Kijun-sen are both showing an upward trend.

• There is resistance at 0.72000, followed by resistance at 0.72090 and 0.72220.
• There is support at 0.71780 Below, there is 0.71650 and 0.71560.

Note: We do not suggest any investment advice, and these analyses are just to increase the traders’ awareness but not a certain instruction for trading.

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