The Aussie came under pressure on Friday as the RBA's Statement on Monetary Policy was interpreted as dovish, and weighed by the increasing risk aversion. Technically, AUD/USD near-term studies show a bearish tone with indicators heading south below their midlines and price developing below the 20 SMA in 4 hours charts, although hourly oversold conditions may signal a consolidation phase before another leg lower. An uptrend line coming from late Dec around 1.0590 should offer immediate support, while acceleration below may signal a bearish continuation run toward 1.0540, which may extend near 1.0500, 200 EMA.
On the upside, the pair needs to recover the 1.0680/1.0700 zone to improve the near-term view and attempt to rise back to the 1.0750 region.
View Live Chart for AUD/USD
On the upside, the pair needs to recover the 1.0680/1.0700 zone to improve the near-term view and attempt to rise back to the 1.0750 region.
View Live Chart for AUD/USD
