FX.co ★ Technical review for AUD/USD: price may decline

AUD/USD may decline again because the mood of the markets is now bearish, which, on Wednesday, already led to the collapse in stock markets. Weak employment data in Australia will also put pressure on the pair.

Technical picture:

The quote is currently above the middle line of the Bollinger indicator, above the SMA 5, but below the SMA 14. The relative strength index (RSI) is also above 50% and indicates a possible slowdown in growth, while the stochastic indicator is still growing steadily.

Possible dynamics:

A decline and consolidation below 0.7000 is likely to provoke a larger dip to 0.6880.