AUD/USD Analysis: dull trading continues with risk skewed to the downside

Valeria Bednarik FXStreet

AUD/USD Current Price: 0.6778

RBA Meeting’s Minutes reiterated the dovish stance, easing bias.
AUD/USD consolidating below the critical 0.6820 price zone.

The AUD/USD pair has continued to trade lifeless just below the 0.6800 figure, peaking for the day at 0.6794 at the beginning of the day. The Reserve Bank of Australia released the Minutes of its latest meeting, which showed that policymakers discussed other countries’ use of “unconventional monetary policy measures,” somehow hinting the implementation of QE if required. The document also showed that the central bank could continue cutting rates and that rates will remain low for an extended period. The Aussie barely reacted to the statement, as the central bank maintained its dovish easing stance. Early Wednesday, Australia will release the Westpac Leading Index for July, previously at -0.08%.

AUD/USD short-term technical outlook

The AUD/USD pair is technically neutral-to-bearish according to the 4 hours chart, still seesawing around a flat 20 SMA and below bearish 100 SMA. Technical indicators in the mentioned chart lack directional strength around their midlines. The pair has been ranging pretty much since the month started, with sellers re-surging on attempts to surpass the 0.6800 level. A couple of relevant highs are located in the 0.6820 area, where, in the daily chart, the pair has a firmly bearish 20 DMA.

Support levels: 0.6740 0.6700 0.6675

Resistance levels: 0.6790 0.6820 0.6860

View Live Chart for the AUD/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

GBP/USD holds gains below 1.3450 as markets bet on more BoE rate hikes

GBP/USD holds moderate gains but stays below 1.3450 in the European morning hours on Friday. The British Pound gains amid optimism on the UK government leadership transition and Bank of England rate hike bets. Meanwhile, the US Dollar loses ground on Middle East de-escalation and receding Fed rate hike expectations.

EUR/USD advances to 1.1450 on softer USD, ECB rate hike bets

EUR/USD advances to near 1.1450 in the early European hours on Friday, bolstered by a softer US Dollar. The European Central Bank is grappling with elevated core inflation, forcing traders to price in more aggressive tightening despite mixed guidance from ECB officials, lending support to the pair.

Gold flat lines above $4,100 amid weaker USD, Fed hike bets and Iran risks

Gold reverses a modest Asian session dip to the $4,109-$4,108 region, though it lacks bullish conviction. The US Dollar selling remains unabated for the third consecutive day in the wake of Wednesday's less hawkish FOMC Minutes and offers some support to the commodity. However, prospects of a Fed rate hike in 2026 remain active.

Zcash: Retail demand lifts ZEC price on new Ironwood shielded pool announcement

Zcash price shows mild recovery during early Asian hours, rising toward the $500 mark. Retail demand supports ZEC's recovery, with an 18% rise in its futures Open Interest, likely linked to the announcement of the Ironwood shielded pool. Technically, ZEC should clear a key Fibonacci resistance level near $520 to test its all-time high of $690.

Five sessions, one round trip: Why the whipsaw is exactly what Warsh ordered

Markets opened July with a December hike as the base case and spent five trading sessions unlearning and relearning it. A 57K payrolls print bled the tightening bets out of the strip; a re-shut Strait of Hormuz is pushing them back in. Wednesday's minutes from the June Federal Open Market Committee meeting landed mid-round-trip, describing a world that had already stopped existing.

Bye, forward guidance: How to trade when central banks choose silence

Central banks have spent years telling markets what might come next. Now, traders face the possibility that they say a lot less. From the Federal Reserve to the European Central Bank and the Bank of England, policymakers are pushing back against forward guidance.