Bulls on the AUD/USD pair pause following a two-day rise that has recently slowed. The US dollar declined despite worries about a recession, conflicting statistics, and geopolitical issues. In the charts, the price is experiencing resistance from the 30-SMA. After a 2-day rally, the AUD/USD outlook shows a halt in bulls. The price has dropped to 0.6950 ahead of the crucial US NFP data release. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- The prevailing cautious mood ahead of the important Reserve Bank of Australia (RBA) Monetary Policy Statement (MPS) and the July US employment data may explain the pair’s most recent actions. The general US currency decline gives the purchasers some hope, though. The RBA met market expectations by raising the benchmark rate to 1.85 percent and announcing a rate hike of 50 basis points (bps). However, following the monetary policy decision, the RBA Statement, “The central bank is not on the pre-set path in normalizing rates,” appears to have attracted the AUD/USD bears, which underlines the issue. On the other hand, the US Initial Jobless Claims increased to 260K for the week ending on July 30 from 254K the week before, and 259K projected. Additionally, job losses decreased, German factory orders increased, and the US goods and services trade balance improved to $-79.6 billion from the previous $-84.9 billion after revisions. Despite the contradictory data, market participants hoped for the Fed’s aggressiveness, but recession fears prevented the US currency from rising. AUD/USD key events today Due to concerns that the hawks are losing their edge, traders of the AUD/USD pair should wait for the RBA’s MPS before acting. Following that, it will be vital for AUD/USD traders to observe the US Nonfarm Payrolls (NFP) for July, projected to be 250K versus 372K previously, to look for precise directions. Get FREE Forex Signals Now! AUD/USD technical outlook: Retesting the recently broken channel support and 30-SMA. The 4-hour chart shows the price retesting the recently broken channel support while at the same time retesting the 30-SMA. The price is currently experiencing solid resistance and will be heading lower soon. –Are you interested to learn more about forex bonuses? Check our detailed guide- Looking at the candles formed in this resistance region, we see a lot of indecision shown by the small bodies and wicks. Indecision comes before a possible reversal. The RSI is trading slightly above 50 but might start trading below soon. The next target for bears is 0.68892. Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next EUR/USD Price Loses Altitude Ahead of the Non-Farm Payrolls Olimpiu Tuns 4 days Bulls on the AUD/USD pair pause following a two-day rise that has recently slowed. The US dollar declined despite worries about a recession, conflicting statistics, and geopolitical issues. In the charts, the price is experiencing resistance from the 30-SMA. After a 2-day rally, the AUD/USD outlook shows a halt in bulls. The price has dropped to 0.6950 ahead of the crucial US NFP data release. –Are you interested to learn more about low spread forex brokers? Check our detailed guide- The prevailing cautious mood ahead of the important Reserve Bank of Australia (RBA) Monetary Policy Statement (MPS) and the July… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.