AUDUSD bullish

USD appears poised to pull back.

The AUDUSD is stuck around the 0.7071 level, with a good resistance at the 0.7100 level. The bearish trend is still in place in the long run and if it continues dropping, then the 0.7000 level may act as support.

The AUDUSD goes above the 0.7100 level, but it is still in a bearish channel and even if it goes back up to the 0.7200 level, the zone may act as resistance. To the downside, the 0.7000 level may act as support.

The AUDUSD stays in a very good bearish channel, with a good support at the 55 day EMA. At the moment the pair consolidates around the 0.7100 level and even though the price may head in any direction, the pair may continue falling to the 0.7000 level.

AUDUSD could be bottoming now and start to head upwards but it would be a brave man to go long now. I would need a clear move upwards before committing any funds to that. I am still bearish on AUDUSD but may change if the price stagnates for a longer period

Indeed, the AUDUSD has lost its bearish momentum, but the downtrend is still in place in daiy chart. As long as the pair stays below the 55 day EMA, it could still drop some more. To the downside, the 0.7000 level could act as support. Above the 0.7100 level, the 0.7200 could act as resistance.