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AUD/USD: will it ever end?

FXStreet (Guatemala) - AUD/USD is trading at 0.8787, up 0.01% on the day, having posted a daily high at 0.8793 and low at 0.8784.

AUD/USD has been on the offer again and now testing Feb territory but here it is starting to build a base for itself as we move across into Asia, but it begs the question as to whether it will ever end, having lost 6 big figures in the month of September? Valeria Bednarik suggests that in the short term, the downside is still favour with a strongly bearish 20 SMA in the hourly chart now capping the upside around 0.8800 and indicators in the same time frame well into negative territory. “In the 4 hours chart technical indicators present a strong bearish momentum, with recoveries up to 0.8840 seen as corrective and selling opportunities now”.

AUD/USD support and resistance levels

Support levels: 0.8770, 0.8730 and 0.8700.

Resistance levels: 0.8800, 0.8840 and 0.8885.

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