AUD/USD analysis: Bearish trade with downside bias
In the mid-term, the price has broken through support level at 0.7135. With price below 14, 50, and 100 MA, there is downside bias for now.
Over the long-term, lower directional movement and smaller activity is expected. In conclusion, flow direction is down, with 3 days net flow at -11. Smaller activity presage a lower movement. The market ended in balanced manner. With decrease in volatility, it means less market opportunities. With value area range decreasing and total TPO above increasing versus total TPO below decreasing, it means that the sellers are in control. The total TPO decreased compared to previous day. Data points to downside bias.