FX.co ★ Technical review for AUD/USD: price could increase again

AUD/USD has declined markedly in recent days because of the panic in stock markets and the outbreak of COVID-19 in China. But if optimism prevails today in anticipation of the US inflation data for April, there may be a rally in the pair during the US session.

technical picture:

The quote is below the middle line of the Bollinger indicator, below the SMA 5 and the SMA 14. The relative strength index (RSI) is below 50% and is moving horizontally, while the stochastic indicator is leaving the oversold zone.

Possible dynamics:

A rise above 0.7000 will prompt a jump to 0.7105.