The Australian dollar extends steep five-day fall and probes below 0.6900 handle on Friday, pressured by fears of another RBA rate cut next month.
Weaker than expected Chinese IP added to negative outlook, as markets await for release of US retail sales data (May 0.7% f/c vs -0.2% prev) which would further depress Aussie on strong release, but also hit doves advocating Fed rate cut on FOMC policy meeting next week.
Technical picture remains negative on rising bearish momentum and multiple bear-crosses of daily MA’s in bearish configuration.
Bears focus key support  at 0.6864 base, break of which would signal extension of bear-leg from 0.7205 (17 Apr high), interrupted by 0.6864/0.7022 correction).
Broken 20SMA (0.6931) is expected to cap upticks and keep bears intact.

Res: 0.6901; 0.6931; 0.6940; 0.6957
Sup: 0.6892; 0.6881; 0.6864; 0.6800




Interested in AUDUSD technicals? Check out the key levels

    1. R3 0.6974
    2. R2 0.6957
    3. R1 0.6936
  1. PP 0.6918
    1. S1 0.6898
    2. S2 0.688
    3. S3 0.686


The information contained in this document was obtained from sources believed to be reliable, but its accuracy or completeness cannot be guaranteed. Any opinions expressed herein are in good faith, but are subject to change without notice. No liability accepted whatsoever for any direct or consequential loss arising from the use of this document.

Feed news

Latest Forex Analysis

Editors’ Picks

EUR/USD below 1.1200 on Draghi's dovishness, amid Trump-Xi meeting announcement

EUR/USD is trading below 1.1200 after ECB President Draghi opened the door to rate cuts. Presidents Trump and Xi will hold an extended meeting at the G-20 Summit. The news cheered markets.


GBP/USD holds on to gains around 1.2550 after Boris wins again

The second ballot for Tories' leadership has been complete. Boris Johnson ended first with 126 votes, followed by Jeremy Hunt, who got 46. Dominic Raab eliminated. Pound showed no reaction to the news.


USD/JPY rallies beyond mid-108.00s on Trump's positive comments

Trump said he will have an extended meeting with the Chinese President next week. This comes on the back of Draghi's dovish comments and triggers risk-on trade. Fading safe-haven demand weighs heavily on the JPY and remained supportive.


Fed Preview: Proto-easing

Fed Funds 2.25%-2.50% target range predicted to be unchanged. Market expecting confirmation of easing bias into the second half. FOMC statement wording, especially "patient" and the economic projections important.

Read more

Gold surges through $1350 level, back closer to 14-month tops

Gold built on its strong intraday positive momentum and spiked to fresh session tops, beyond the $1350 level during the early North-American session.

Gold News