The advance off the late-February 0.6833 low peaked near 0.7277 in late April, where two weekly attempts stalled to form a double top before rolling over. Price has since drifted back below EMA20 and EMA50 and is now consolidating around the psychological 0.7120 support after this week's soft Q1 GDP miss drove a selloff, partly offset by a firmer USD on strong US data. The 0.7180 pivot caps the upside while 0.7120 holds the floor.
Support: 0.7120, 0.7065
Resistance: 0.7180, 0.7277
What it said to watch
Daily close below 0.7120 psych support confirms a lower-low and opens 0.7065 swing low
Reclaiming the 0.7180 pivot would re-engage the 0.7250-0.7277 april high area
US Nonfarm Payrolls Friday 12:30 UTC (~15h) could materially shift this read
21:02 UTC
Uptrend, momentum slowing near range top · RSI 54 · price 0.71324
Higher highs since late March, now consolidating below 0.7227.
Two-month uptrend off the late-March 0.6875 swing low, with price holding above a rising EMA(50) since mid-April. Two attempts at 0.7277 and 0.7227 over the last three weeks have stalled, and the tape has gone sideways between 0.7110 and 0.7200, RSI cooling back to mid-range. Structure remains constructive but the failure to extend hints at a double top forming.
Support: 0.7110, 0.7045, 0.6875
Resistance: 0.7227, 0.7277
What it said to watch
D1 close above 0.7227 reopens the path toward the April 0.7277 high
D1 close below the 0.7110 swing low confirms a lower-low and threatens the EMA50 at 0.7045
Oil and copper softness flagged in news flow could weigh on AUD if it persists
AUDUSD has carved a steady uptrend off the April low at 0.6864, with price now consolidating between the 0.7113 range low and 0.7200 range high over the last 3 weeks. The May 7 push to 0.7277 has not been retested, leaving a double top look against 0.7200, while EMA(50) on D1 continues to rise underneath around 0.7050. RSI has cooled from 70+ to mid-range, consistent with sideways action rather than a trend break.
Support: 0.7113, 0.7050, 0.6864
Resistance: 0.7200, 0.7277
What it said to watch
Daily close above 0.7200 reopens the path toward the 0.7277 May swing
Daily close below 0.7113 range low would break the consolidation and expose the ema50
Sustained rejection at 0.7200 confirms the double top read
RBA Governor Bullock's hawkish tone may keep AUD supported into next sessions