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  • AUD/USD is pulling back down after hitting 0.7050 resistance.
  • AUD/USD is losing steam below the 0.7023 resistance.

AUD/USD daily chart

The Aussie is currently retreating after hitting 0.7050 resistance mentioned on Wednesday. The market is trading just below its 100-day simple moving average (DSMA).

 

AUD/USD 4-hour chart

AUD/USD is retracing after hitting 0.7050. If the market breach 0.7005 support the market can accelerate down to 0.6955 support, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading below 0.7023 resistance and the 50 SMA. Bulls would need to reclaim this level in order to climb towards 0.7050 one more time. However, the market might be ready for further losses while below 0.7023.

Additional key levels