AUD/USD technical analysis: Aussie trading at multi-week low as easing and bearish bias is intact

  • Overnight Reserve Bank of Australia (RBA)’s Lowe said that the Bank has an “easing bias.” Putting extra pressure on AUD.
  • AUD/USD remains vulnerable to further weakness below the 0.6860 level.

AUD/USD daily chart

AUD/USD is trading in a bear trend below its main simple moving averages (SMAs). The Aussie is trading at multi-month low.

AUD/USD 4-hour chart

AUD/USD is trading at the weekly low its main SMAs suggesting bearish momentum in the medium term.

AUD/USD 30-minute chart

The Aussie is pressured near the daily lows. If the bears break below the 0.6860 support they can reach 0.6820 level to the downside. Resistances are seen at 0.6890 and 0.6930 level

Additional key levels

Products You May Like

Articles You May Like

Yen slips as yields, equities inch higher on the day
5 trading mistakes to avoid: Mistake #2 The Spectator’s Guilt
Crude Oil Price – Trump Fuelled Rally Running into Resistance
UK Conservative leadership vote shows Johnson at 126 votes vs 114 last round, Raab eliminated
WTI crude oil futures settle at $57.43

Leave a Reply

Your email address will not be published. Required fields are marked *