AUD/USD: technical analysis 13.06.2019
On the 4-hour chart, the instrument is falling along the lower line of the Bollinger Bands. The price is approaching a strong support in the region of 0.6897 (Murray [0/8]). There is a chance of an upward rebound, while its breakdown would allow the fall to continue to the area of 0.6881 (Murray [-1/8])-0.6866 (Murray [-2/8]). If the “bulls” manage to raise the rate above the level of 0.6927 (Murray [2/8]), the correction can continue to the area of 0.6942 (Murray [3/8])-0.6958 (Murray [4/8]). Technical indicators mostly keep a sell signal, but the upward correction is possible in the short term. Bollinger Bands are directed down. The volumes of MACD histogram are growing in the negative zone. Stochastic is in the ovesold area and is pointed sideways.
Support and resistance
Support levels: 0.6897, 0.6881, 0.6866.
Resistance levels: 0.6912, 0.6927, 0.6942, 0.6958.
Short positions can be opened below the level of 0.6897 with the target at around 0.6881-0.6866 and stop-loss 0.6907.
Long positions can be opened above the level of 0.6927 with the target at around 0.6942-0.6958 and stop-loss 0.6917.