- AUD/USD are back in control as the market trades below the 0.6900 handle and the 200 DMA.
- The level to beat for bears is the 0.6839 level.
AUD/USD daily chart
AUD/USD rejected the 0.6900 handle and the 200-day simple moving average (DMA) as the overall bias remains bearish for the aussie.
AUD/USD four-hour chart
AUD/USD is retracing down, now trading below the 50 SMA and approaching the 200 SMA on the four-hour chart. It seems that bulls have stepped out, leaving the bears in control. A break below the 0.6839 support can yield further weakness towards the 0.6825 and 0.6800 handle, according to the Technical Confluences Indicator. However, the market might enter in a range before doing so. On the other hand, bulls want to bring back the market above the 0.6890 resistance to retest the 0.6911 and 0.6932 level.
Additional key levels
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