AUD/USD spent most of the trading week on the low side, backsliding into the 200-hour Simple Moving Average (SMA) near 0.6580 on Thursday. The 50-hour and 200-hour SMAs have begun a bearish crossover near 0.6585 as intraday price action tilts into the bearish side. The Aussie-Dollar pair flubbed a brief bullish push into the 0.6640 early in the week.
Friday’s third of a percent decline has the Aussie clattering into the 200-day SMA against the US Dollar near 0.6560, and momentum is tilted into bear country as the pair fails to find bullish momentum after a rebound from the last swing low into the 0.6450 handle.
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