AUD/USD Technical Analysis: Aussie hovering above 0.7300 figure ahead of crucial FOMC minutes

AUD/USD daily chart

• AUD/USD is trading in a bear trend below the 200-day simple moving average.  
• However, bulls reclaimed the 50 and 100 SMA while technical indicators are gathering speed suggesting that the current bias might be to the upside.  
• The FOMC minutes at 19.00 GMT are eagerly awaited by investors around the world as they can stir the US Dollar in one direction or another. Great caution is advised.  

AUD/USD 4-hour chart

• AUD/USD has tested the 0.7340 resistance and is currently rejecting the level.  
• Technical indicators are bullish although Stochastic is overbought.  
• If bulls cannot sustain prices above 0.7340 then a deep pullback to 0.7220 can be on the cards.  

AUD/USD 30-minute chart

• AUD/USD is testing the 50 SMA and is now close to the 0.7300 figure.  
• If bulls cannot support the market there, the next key support is seen at 0.7220 level.
• The bias remains to the upside with a potential target at 0.7400 figure.  

Additional key levels