AUD/USD: Moderate bearish stance

The risk is skewed to the downside in the AUD/USD pair, which is about to challenge 0.6000, Valeria Bednarik from FXStreet reports.

Key quotes

“The AUD/USD pair is offering a moderate bearish stance, according to the 4-hour chart, as it continues to trade below its 20 SMA, while around a bearish 100 SMA.” 

“A break below the 0.6000 threshold should open doors for a steeper decline.”

“Support levels: 0.6035 0.6000 Resistance levels: 0.6075 0.6110”