AUD/USD (a 4-hour chart)
Reserve Bank of Australia left its rate unchanged this week. The RBA left the door open for the rate change for August.
The instrument went back and forth during the course of the session on Thursday. The AUD has found a descent resistance around 0.7500. All its attempts to grow were rejected by the level. The resistance is at 0.7500, the support comes in at 0.7400.
MACD is in the negative area. MACD grew which indicates the sellers’ positions weakening. Indicator RSI is close to the oversold area which is a sell signal.
The 4 hours chart shows that the instrument is just below the 100-EMA. The 50-EMA and the 100-EMA are turning down which is a sell signal. The 200-EMA is neutral.
If the pair manages to make a breakout of 0.7500 upwards the AUD/USD may hit 0.7550 -0.7600 area. To trigger additional downward momentum the AUD needs to break 0.7465 (the 200-EMA).