Every read JAFX AI made on the AUD/USD daily chart that day, newest first: trend, structure, the levels it marked and what it said to watch.
21:04 UTC
Recovering off June lows, range-bound · RSI 55 · price 0.70428
Consolidating below 0.7050 after May-June decline.
AUDUSD peaked near 0.7277 in early May, then bled lower through June to a 0.6882 low before basing and grinding back to the 0.700-0.705 band over the last several weeks. The recovery has retraced roughly 38% of the May-June decline and price sits just above a flattening EMA(50), with the 0.7050 100-day SMA capping the last two weekly attempts higher. The soft Australian CPI print (3.8% vs 4%) that ruled out an August RBA hike, plus weak China PMIs, explain the stalled upside despite a softer USD backdrop.
Support: 0.7000, 0.6900
Resistance: 0.7050, 0.7130, 0.7277
What it said to watch
- Daily close above 0.7050 opens the path back toward the 0.7130 prior pivot
- Failure to hold 0.7000 psych support reopens the 0.6900 swing low
- HIGH-impact AUD Trade Balance Thu 6 Aug could shift this range read
21:04 UTC
Range within broader downtrend, recovering · RSI 56 · price 0.70428
Range 0.6900-0.7050 after Apr-Jun leg down.
A double top near 0.7277 in late April rolled into a two-month decline that bottomed at 0.6865 in mid-June; since then price has carved a rounded base and reclaimed the EMAs, but progress stalls under the 100-day SMA cap at 0.7050. The last three sessions coil between 0.7000 and 0.7050 as the soft 3.8% CPI print all but ruled out an August RBA hike, while a broadly soft USD offsets the downside. RSI has cycled back to the mid-50s, neutral with a modest upward tilt.
Support: 0.7000, 0.6922, 0.6865
Resistance: 0.7050, 0.7118, 0.7277
What it said to watch
- Daily close above 0.7050 opens the path back toward the 0.7118 pivot
- Failure to hold the 0.7000 handle exposes the 0.6920 swing low
- AUD Trade Balance Thu (f/c -1100M) could shift the range read