The AUD/USD rebound following the 2019 currency market flash-crash has been capped by the 200-Day SMA (0.6909), with the exchange rate staging multiple failed attempts to break/close above the moving average throughout the year.
AUD/USD Daily Chart (Chart 1)
The behavior looks poised to persist in 2020 as a similar scenario takes shape in December. Keep in mind, the negative slope in the simple moving average dates to 2018 when AUD/USD carved a double top formation between September 2017 and January 2018.
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https://www.dailyfx.com/forex/fundamental/forecast/weekly/aud/2020/01/01/Top-Trade-Idea-2020-Short-AUDUSD-Ranging-USDCAD.html
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