AUD/USD outlook: Aussie edges lower after RBA as bulls lost traction at psychological 0.70 barrier

Slobodan Drvenica Windsor Brokers

AUD/USD

The Australian dollar edged lower after facing headwinds at psychological 0.70 barrier, with RBA’s decision to keep rates unchanged, contributing to fresh weakening.
Fundamentals remain mixed as hopes of economic recovery continue to boost risk mode, while rising number of new virus cases sours the sentiment.
Technical studies show fading bullish momentum on daily chart and stochastic reversing from overbought territory as negative signals which conflict with MA’s in full bullish setup.
Converged sideways-moving 10/20 DMA’s (0.6906/00) mark pivotal support which should contain dips and keep bias with bulls.
Break of these barriers would weaken near-term structure and risk probe into the lower part of consolidation (0.7064/0.6776) of larger Mar/Jun uptrend (0.5509/0.7064).
Key supports lay at 0.6807/0.6776 and break here would generate initial signal of pullback.
Neutral near-term mode could be expected while the price remains within 0.6800/0.7000 range, while close above 0.70 barrier would improve tone and expose key barrier at 0.7064 (10 June high).

Res: 0.6983; 0.7000; 0.7064; 0.7082
Sup: 0.6927; 0.6900; 0.6880; 0.6832

Interested in AUD/USD technicals? Check out the key levels

1. R3 0.7057
2. R2 0.7023
3. R1 0.6998
PP 0.6963
1. S1 0.6939
2. S2 0.6904
3. S3 0.688

Author

Slobodan Drvenica

Windsor Brokers

Industry veteran with over 22 years’ experience, Slobodan Drvenica joined Windsor Brokers in 1995 when he was an active trader for more than 10 years, managing the trading desk and own account departments.

EUR/USD: US Dollar comeback in the makes?

The US Dollar stands victorious at the end of another week, with the EUR/USD pair trading near a four-week low of 1.1742, while the USD retains its strength despite some discouraging American data released at the end of the week. The pair edged higher on Friday, after the United States Supreme Court ruled against President Donald Trump's tariffs, although the advance is not enough to change the latest USD flow.

GBP/USD braces for more pain, as 200-day SMA tested

GBP/USD broke the previous week’s consolidation to the downside, as sellers returned with pomp, smashing the major back toward the levels last seen in late January. The pair tested bids below the 1.3450 barrier as the US Dollar strength largely played out throughout the week, while the Pound Sterling stepped back on expectations of divergent monetary policy outlooks between the Bank of England and the US Federal Reserve.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.

Week ahead: Markets brace for heightened volatility as event risk dominates

Dollar strength dominates markets as risk appetite remains subdued. A Supreme Court ruling, geopolitics and Fed developments are in focus. Pivotal Nvidia earnings on Wednesday as investors question tech sector weakness. Yen and aussie diverge; both pound and euro could recoup their losses.

Broadening drivers of growth: Unpacking GDP and looking ahead

This week’s data delivered a familiar theme with an important twist. The U.S. economy continues to be shaped by powerful forces in high-tech and AI-related investment, but recent releases suggest the growth story may finally be broadening. At the same time, trade flows are moving in a less supportive direction, reminding us that not all parts of the economy are pulling in sync.

Ripple bulls defend key support amid waning retail demand and ETF inflows

XRP ticks up above $1.40 support, but waning retail demand suggests caution. XRP attracts $4 million in spot ETF inflows on Thursday, signaling renewed institutional investor interest.