Pick of the Day 07 April 2022 AUDUSD

　　

AUDUSD Intraday: the downside prevails.

Pivot Level: 0.7532

Our preference:

the downside prevails as long as 0.7532 is resistance.

Alternative scenario:
the upside breakout of 0.7532, would call for 0.7563 and 0.7581.

Comment:
the RSI is below 50. The MACD is below its signal line and negative. The configuration is negative. Moreover, the price is trading under both its 20 and 50 period moving average (respectively at 0.7542 and 0.7563).

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