AUD/USD remains in the bearish trend at midweek

Yesterday, the AUD/USD had a fairly bearish session as the pair found resistance at the level of 0.8800, where the 200 day moving average is located.

The aussie is forming a bearish pattern below the pivot point at the level of 0.8762. Now, it is likely that the fall of this pair extends to the support level of 0.8699. If the pair manages to break that level, the objective would be bearish next support level at 0.8661. On the other hand, if AUD/USD manages to consolidate above the pivot point, the next target would be the resistance level at 0.8800.

The MACD indicator is still in negative territory, so the bearish outlook is still alive in the AUD/USD.

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