Technical analysis of AUD/USD 10/22/2020

The AUD/USD currency pair, having found resistance at 0.7400, continues its downward movement as part of the correction on the daily timeframe. The pair broke through the top (MA100), once again tested the 0.7000 level zone (23.6% Fib) and is currently consolidating around 0.7100. If the pair manages to gain a foothold below the 0.7000 zone, then the next support will be the level of 0.6760, where (MA200) and (38.2% Fib) coincide. In favor of the downward correction development on the daily chart, there is a divergence on the RSI indicator. Cancellation of the decline option will be growth above the level of 0.7400.

AUDUSD_STPDaily

Created by Joshua Hayn

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