<p>The latest report of AUD against USD sees the pair decline slightly to 0.71116 on GMT+11 base. However, the last candlestick saw the high pressure resist the bearish. An overall upward trend and a robust ascending channel are constructed under this condition. The 23.6% retracement is now the critical support to judge the future movement of the pair. A further loss is predictable if the support is penetrated. On the 4h chart, RSI slows down the slope and maintain a 44 for 14 days. Even though the risk remained downside but the 60 SMA deviating from 20 SMA can construct a buffer to slow down the trend to some extent. Essential support is 0.71056 while support is around 0.71277 used to be a resistance on 9.11.</p>

AUD tends to be slide but controllable

Dec 01 2020