AUD/USD technical analysis: Dead-cat-bounce vs. Bottom on the Aussie
|AUD/USD daily chart
AUD/USD is trading in a bear trend below its main simple moving averages (SMAs) while at multi-month low. The Aussie has been consolidating its losses in the last four days.
AUD/USD 4-hour chart
AUD/USD is in a range below its main SMAs while bulls are attempting to form a base. The current USD weakness can give AUD/USD a boost.
The Aussie is close to challenging the 0.6900 figure while trading above its main SMAs. A break above the level can send AUD/USD towards 0.6930 and 0.6960 resistances. Support is at the 0.6860 level.
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