AUD/USD technical analysis: Aussie chopping around ahead of the RBA Meeting Minutes

AUD/USD is trading near daily lows as the market chopped around for most of the session.
The level to beat for bears is the 0.6848 support level.
The Reserve Bank of Australia (RBA) will be releasing its Meeting Minutes on Tuesday at 1:30 GMT.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The AUD/USD currency pair is trading in a bear trend below the 100 and 200-day simple moving averages (SMAs). However, throughout September, the market has been rebounding sharply.

AUD/USD 4-hour chart

The Aussie is trading above its main simple moving averages (SMAs), suggesting bullish momentum in the near term. However, the market tested the 50 SMA as little to no progress has been made this Monday on the bullish side. The Aussie will need a daily close above 0.6900 resistance to extend the bull run towards 0.6930, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading near daily lows below its main SMAs, suggesting a bearish bias in the near term. If the 0.6848support gives way to a bearish incursion, the 0.6827 and 0.6800 levels can become the next support levels on the way down, according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.6864
Today Daily Change	-0.0014
Today Daily Change %	-0.20
Today daily open	0.6878

Trends
Daily SMA20	0.6791
Daily SMA50	0.6853
Daily SMA100	0.6904
Daily SMA200	0.7013

Levels
Previous Daily High	0.6891
Previous Daily Low	0.6856
Previous Weekly High	0.6895
Previous Weekly Low	0.6837
Previous Monthly High	0.6869
Previous Monthly Low	0.6676
Daily Fibonacci 38.2%	0.6878
Daily Fibonacci 61.8%	0.6869
Daily Pivot Point S1	0.6859
Daily Pivot Point S2	0.684
Daily Pivot Point S3	0.6824
Daily Pivot Point R1	0.6894
Daily Pivot Point R2	0.691
Daily Pivot Point R3	0.6929

Author

Flavio Tosti

Independent Analyst

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