AUDUSD – limited recovery but key 20SMA / trendline barriers remain under pressure
The pair remains congested between 10 SMA (0.7596) and 20SMA (0.7632) which caps upside attempts for the third straight day, along with bear-trendline from 0.8102 (20 Sep high).
Corrective action from 0.7530 (21 Nov low) is likely to be capped here as overall trend remains bearish and overbought slow stochastic is generating negative signal on daily chart.
However, bullishly aligned near-term studies are supportive for further upside on firm break above trendline / 20SMA.
Extended upticks would look for 55SMA barrier (0.7677) and expected to be capped by 200SMA (0.7694), before bears resume for retest of key 0.7530 support.
Res: 0.7632; 0.7665; 0.7667; 0.7694
Sup: 0.7596; 0.7584; 0.7555; 0.7530