AUD/USD technical analysis: Aussie declining to daily lows near 0.7014 ahead of Fed’s Powell speech
|- AUD/USD is losing steam below the 0.7060 resistance.
- The level to beat for bears is 0.7014 followed by 0.6980 and 0.6950.
AUD/USD daily chart
The Aussie is in a bear trend below its 200-day simple moving averages (DSMAs). It is currently challenging Monday’s lows and the 100 SMA. Fed’s Chair Powell will be delivering a speech at 17:00 GMT. The event can lead to high volatilty in USD-related currency pairs.
AUD/USD 4-hour chart
AUD/USD found resistance below 0.7060 and the previous peak made in early July. On a break below 0.7014, bears can overtake the market and drive its towards 0.6980 and 0.6950, according to the Technical Confluences Indicator.
AUD/USD 30-minute chart
AUD/USD is trading below the 50 and 100 SMAs suggesting a consolidation down in the near term. Resistances are seen near 0.7035 and 0.7060 , according to the Technical Confluences Indicator.
Additional key levels
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