Technical analysis 10.08.18

AUDUSD

The pair is trading above 0.7320. If this mark is breached amid the growing tension of the trade wars and the consumer inflation data is positive, the pair may go further down.

The price is below the lower Bollinger band, below SMA 5 and SMA 14. RSI is entering the oversold zone. Stoch are already there.

Trading recommendations:

If the level of 0.7320 is breached, the pair would be likely to fall to 0.7250.