By Christopher Romano — Jan 25 - 12:03 PM
Bear signals intensify as AUD/USD falls below 10- & 21-DMAs
Daily RSI implies short-term bear momentum is increasing
Monthly RSI is close to diverging on the bull-trend high recently set
January's inverted hammer candle reinforces bearish sentiment
0.7640/60 is key support, if breaks stops likely get triggered
Break of support might cause bears to come to market & hit bids
Tests of supports near 0.7450, 0.7350 then cannot be ruled out
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Source:
Refinitiv IFR Research/Market Commentary