AUD/USD
AUDUSD edges lower in early European trading on Tuesday, following a mild rise in Asia, driven by overall positive Australian economic data and dovish comments from Fed officials on Monday.
Fresh advance faced headwinds and struggled to clearly break above 0.6400 zone (broken Fibo support, reverted to resistance and reinforced by 20DMA).
Technical studies on daily chart remain bearishly aligned (14-d momentum is in negative territory, the action weighed by falling thick daily cloud) keep alive warning that recent four-day recovery might be running out of steam.
The action of Tuesday’s Asian/early European sessions was so far shaped in bearish candle with long upper shadow, adding to initial stall warning, which would materialize if the price falls further and registers daily close below 10DMA (0.6375).
Near-term focus would shift lower again in such scenario and expose last week’s new 2023 low (0.6285).
Alternatively, sustained break above 0.6400 zone would generate initial signal of recovery continuation, though acceleration through falling 55DMA (0.6458) will be required to confirm the signal.
Res: 0.6403; 0.6432; 0.6458; 0.6500.
Sup: 0.6375; 0.6360; 0.6312; 0.6285.
