AUDUSD
The pair is trading within a short-term uptrend. However, as the RBA is expected to hike interest rates, or even to reduce them against the backdrop of slower inflation growth, the pair is moving down to the lower end of this trend.
The price is on the lower Bollinger band, below SMA 5 and SMA 14. RSI is below the level of 50% and is moving down. Stoch are in the oversold territory.
Trading recommendations:
Sell the pair as it’s likely to drop to 0.7100 and then to 0.7060.