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