AUD/USD (a 4-hour chart)
The dollar was neutral, the US currency remained at the 4 month peaks against the other majors. The upcoming Fed meeting and the possibility of the rate hike in 2016 support the dollar.
The pair AUD/USD traded inside its descending channel. The AUD started the week with a recovery and was able to grow by the psychologically important 0.7500 mark. However, the pair failed to regain the level and fell. The session low was marked at 0.7454. The resistance is at 0.7500, the support comes in at 0.7400.
MACD is in the negative area. MACD decreased which indicates the sellers’ positions strengthening. Oscillator RSI is close to the overbought area which is a buy signal.
The price rebounded from the 100-EMA and stopped at the 200-EMA in the 4 hours chart. The 50-EMA is breaking the 100-EMA at the same chart, both lines are moving downwards.
The potential decrease target is the support level of 0.7400.