21:04 UTC
Downtrend, consolidating near lows · RSI 46 · price 0.69336
Lower highs off May peak, flattening base low-0.69s.
AUDUSD has been in a multi-week downtrend since the early-May 0.7277 peak, trading below a falling EMU(50) with a chain of lower highs. The past two weeks have flattened into a base between the 0.6865 swing low and the 0.6950 rejection high, with the corrective NFP-driven bounce toward 0.6950 largely handed back. Softer AU inflation and a weak trade balance have removed the domestic catalyst, leaving the pair a range-bound passenger to USD and China risk.
Support: 0.6910, 0.6865, 0.6835
Resistance: 0.6950, 0.6980
What it said to watch
- Daily close below 0.6865 swing low confirms a lower-low toward the 0.6835 200-day
- Reclaim of 0.6950 needed to challenge the 0.6980 range top
- FOMC minutes Wed 18:00 UTC could materially shift the USD read