HomeContributorsTechnical AnalysisAUD/USD Pair Moved into a Bearish Zone Below 0.6280

AUD/USD Pair Moved into a Bearish Zone Below 0.6280

The Aussie Dollar started a fresh decline from the 0.6350 resistance zone against the US Dollar. The AUD/USD pair declined below the 0.6280 level to move into a bearish zone.

There was a clear move below the 0.6250 zone and the 50 hourly simple moving average. The pair traded as low as 0.6194 and is currently correcting losses. An immediate resistance on the upside is near the 0.6245 level and a connecting bearish trend line on the hourly chart.

If there is an upside break above the 0.6250 zone, the pair could rise steadily towards the 0.6300 level in the near term. The main resistance now sits near the 0.6350 level.

An immediate support is near 0.6215 on FXOpen. The next key support is near the 0.6200 level. A downside break below the 0.6200 support could lead the pair towards the 0.6165 support.

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