AUDUSD continued its downtrend last week. It tested near-term resistance level at 0.8020 and fall from that level. After that rejection, we saw rapid falling. It is now staying below 0.7800 area. This level is now acting as near-term resistance area. If this pair hold this resistance, then we can take sell entry and target will be 0.7670 area.
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In Technical Indicators view
In daily chart, MACD indicator is below 0.0 level which indicates strong down trend.
In daily chart, RSI indicator is showing that this pair is oversold. So we have to wait for retracement for take sell entry.
All Moving averages are giving sell signal in this pairs.
In summary, we have to stay on downside for further down rally.
Weekly Pivot, Support and Resistance
Resistance Two (R2): 0.8141
Resistance One (R1): 0.7952
Pivot Point: 0.7836
Support One (S1): 0.7647
Support Two (S2): 0.7531