Home AUD/USD technical analysis: Aussie is trading below 0.6980 ahead of RBA
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AUD/USD technical analysis: Aussie is trading below 0.6980 ahead of RBA

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  • AUD/USD is under bearish pressure below the 0.7000 mark.
  • The level to beat for sellers is 0.6960.  

Market participants will pay attention to the Reserve Bank of Australia (RBA) Rate Decision and Statement at 4:30 GMT. This can lead to high volatility on AUD-related pairs.

AUD/USD daily chart

AUD/USD is in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market is trading below the 0.7000 mark and is testing the 50 SMA.

AUD/USD 4-hour chart

The Aussie is testing the 0.6960 support and the 50 SMA. Further down lies 0.6930 and 0.6914 support according to the Technical Confluences Indicator.


AUD/USD 30-minute chart

AUD/USD is trading below its main SMAs suggesting bearish momentum in the near term. Resistances can be seen at 0.6980 and 0.7000 resistances.


Additional key levels

 

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