21:03 UTC
Downtrend, testing support · RSI 40 · price 0.69113
Lower highs/lows since May peak, basing at 3-mo low.
Downtrend on D1 since the early-May peak near 0.7277, with price trading below EMA20 and a falling EMA50; the May rally has been fully retraced. The Aussie is now basing on the 0.6865 three-month low support after a mid-June leg lower, a hawkish RBA floor offset by a firm USD into US payrolls. Two attempts at 0.6865 have held so far, but the 0.6935 topside cap keeps a lid on relief bounces.
Support: 0.6865, 0.6835, 0.6707
Resistance: 0.6935
What it said to watch
- Daily close above 0.6935 negates the near-term downside read
- Break and daily close below 0.6865 opens 0.6835, then the 0.6707 objective
- US Nonfarm Payrolls Fri is the dominant near-term driver via USD/yields