- The AUD / USD daily chart is showing signs of bullish fatigue.
- A pullback to former resistance, now turned into support, appears to be on the table.
AUD / USD is moving within a tight range on Thursday, forming a Doji candle, a sign of indecision, for the fourth day in a row.
The multiple Doji candles have appeared after a near vertical rally from 0.6991 to 0.7340. In other words, indecision seems to be dominating among the pair’s bulls. As such, a setback could be on the table. Also, the RSI on the 4-hour chart has diverged in favor of the bears.
Immediate support is at the October 9 high of 0.7243, followed by the 50-day SMA at 0.7174.
On the other hand, the November 9 high at 0.7340 is the level to beat for the bulls.
AUD / USD daily chart
Credits: Forex Street
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