AUD/USD (a 4-hour chart)
The Australian dollar moved lower vs. its U.S peer after mixed unemployment data release on Thursday.
The price encountered significant losses on Thursday. After touching the level 0.7730 the prices turned around and sharply fell. The pair broke the 0.7690 level and tested 0.7650 on its way down. The downward impetus faded around the daily low. The AUD/USD broke the 50-EMA in the 1 hour chart. The price is approaching the 100-EMA in the same timeframe. The 50-EMA is turning down, the 100 and 200 EMAs are still heading north. The resistance is at 0. 7690, the support stands at 0. 7650.
MACD decreased which indicates the buyers’ positions weakening. RSI bounced from the overbought area and headed towards the negative levels.
If the price overcomes 0.7650 and moves downwards we will neutralize our medium term positive outlook. After breaking the current support level prices will trend towards 0.7625.