The AUD/USD pair could activate a sell-off if it makes a new lower low. The price action signaled that the buyers were exhausted. Only a new higher high could indicate further growth. The AUD/USD price climbed as high as 0.7282 level last week, where it found resistance. At the time of writing, the price was at 0.7214. -Are you interested in learning about the best AI trading forex brokers? Click here for details- Technically, the price action signaled that the upside movement ended, and the bears could take the lead again. Still, a new downside movement needs strong confirmation. In the short term, the bias remains bullish, so the currency pair may try to resume its growth. Fundamentally, the US data came in mixed on Friday. That’s why the USD is still sluggish. The NFP was reported at 390K in May versus 325K expected. The Unemployment Rate remained at 3.6% even if the traders expected a potential drop to 3.5%, while the Average Hourly Earnings rose by 0.3% less versus 0.4% forecasts. Today, the Australian ANZ Job Advertisements surged by 0.4% compared to a 2.0% drop in the last reporting period, while the MI Inflation Gauge rose by 1.1%. Tomorrow, the RBA could bring high volatility and sharp movements. The Cash Rate is expected to be increased from 0.35% to 0.60%. The RBA Rate Statement could really shake the markets. In addition, the AIG Services Index and the US Trade Balance could bring some action. Get FREE Forex Signals Now! AUD/USD price technical analysis: Retesting the trendline As you can see on the 1-hour chart, the AUD/USD pair failed to stay above the uptrend line, and now it seems determined to come back down. The price action signaled that the buyers were exhausted after failing to stabilize above the 0.7265 key resistance. -Are you interested in learning about the forex indicators? Click here for details- The rate rebounded to retest the broken trendline in the short term. The 0.7187 former low stands as static support. A new lower low, making a valid breakdown below this downside obstacle, could activate more declines. Still, don’t forget that the RBA could change the sentiment. That’s why you need to be careful. Technically, an upside continuation could be signaled by a valid breakout above the 0.7265 key resistance. Looking to trade forex now? Invest at eToro! Trade Forex Now! 68% 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 Olimpiu Tuns Olimpiu Tuns Olimpiu Tuns graduated with a Master in Business Administration and is a seasoned Market Analyst / Trader / Trainer with 10 years of experience in the financial markets having expertise in Forex, Commodities, Index, Cryptocurrencies, and Stocks. He worked as a Market Analyst for three major brokerage companies, as a prop trader, and as a contributor/content creator for news portals and educational platforms. View All Post By Olimpiu Tuns AUD/USD Daily Outlooks share Read Next AUD/USD Forecast: Whiplashed After RBA Raised Rates By 50-bps Saqib Iqbal 8 months The AUD/USD pair could activate a sell-off if it makes a new lower low. The price action signaled that the buyers were exhausted. Only a new higher high could indicate further growth. The AUD/USD price climbed as high as 0.7282 level last week, where it found resistance. At the time of writing, the price was at 0.7214. -Are you interested in learning about the best AI trading forex brokers? Click here for details- Technically, the price action signaled that the upside movement ended, and the bears could take the lead again. Still, a new downside movement needs strong confirmation. In… 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.