AUD/USD Forex Signal: Aussie Extremely Bearish Below 0.7588

AUD/USD Technical Analysis

The hourly chart shows that the AUD/USD pair has tilted lower recently. It is trading at 0.7598, which is slightly below the 25-day and 15-day exponential moving averages (EMA). The price is also along the lower line of the Bollinger Bands while the Relative Strength Index (RSI) has been on a downward trend. Therefore, the path of least resistance for the Australian dollar is lower, with the next level to watch being at 0.7588. A drop below this level will be a sign that bears have prevailed and that the price will keep falling as bears attempt to move below 0.7500.

AUD/USD

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