Technical analysis of AUD/USD For Aug 09, 2018

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The AUD/USD pair now moving in a Bearish bias, this condition is already confirmed by the price moving orderly bellow the Moving Average 100 periods and inside the down slope channel at the Daily Charts, although now this pair is moving in a Sideways condition because the Stochastic Oscillator is now already at Overbought level area.There is a possibility in a few days ahead that this pair will continue its Bearish bias as long as it does not break out and close above the 0.7845 level. (Disclaimer)The material has been provided by InstaForex Company - www.instaforex.com