AUD/USD technical analysis: Aussie declining to daily lows near 0.7014 ahead of Fed’s Powell speech

AUD/USD is losing steam below the 0.7060 resistance.
The level to beat for bears is 0.7014 followed by 0.6980 and 0.6950.

Flavio Tosti Independent Analyst

AUD/USD daily chart

The Aussie is in a bear trend below its 200-day simple moving averages (DSMAs). It is currently challenging Monday’s lows and the 100 SMA. Fed’s Chair Powell will be delivering a speech at 17:00 GMT. The event can lead to high volatilty in USD-related currency pairs.

AUD/USD 4-hour chart

AUD/USD found resistance below 0.7060 and the previous peak made in early July. On a break below 0.7014, bears can overtake the market and drive its towards 0.6980 and 0.6950, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading below the 50 and 100 SMAs suggesting a consolidation down in the near term. Resistances are seen near 0.7035 and 0.7060 , according to the Technical Confluences Indicator.

Additional key levels

AUD/USD

Overview
Today last price	0.702
Today Daily Change	-0.0019
Today Daily Change %	-0.27
Today daily open	0.7039

Trends
Daily SMA20	0.6971
Daily SMA50	0.695
Daily SMA100	0.7021
Daily SMA200	0.7092

Levels
Previous Daily High	0.7041
Previous Daily Low	0.7011
Previous Weekly High	0.7026
Previous Weekly Low	0.6909
Previous Monthly High	0.7026
Previous Monthly Low	0.6831
Daily Fibonacci 38.2%	0.703
Daily Fibonacci 61.8%	0.7022
Daily Pivot Point S1	0.702
Daily Pivot Point S2	0.7
Daily Pivot Point S3	0.699
Daily Pivot Point R1	0.705
Daily Pivot Point R2	0.706
Daily Pivot Point R3	0.708

Author

Flavio Tosti

Independent Analyst

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