AUDUSD
The pair is in downtrend against the backdrop of the weak Chinese industrial production data, which puts pressure on the Australia’s export of raw materials to the PRC.
The price is below the middle Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch have entered the oversold zone.
Trading recommendations:
If the pair takes hold below 0.7200, it may result in a local drop to 0.7150 or even further down to 0.7200.