21:03 UTC
Downtrend, pressing 3-month lows · RSI 35 · price 0.68794
Lower highs, lower lows.
AUDUSD has shed roughly 400 pips since the late-May top near 0.7277, breaking below 0.7000 in mid-June and grinding to 3-month lows. Price sits well below a falling EMA(50), with the 0.6865 UOB floor the line holding for now as firm USD into US labor data offsets a largely-priced hawkish RBA. Two attempts to reclaim 0.6940 have capped, keeping the descending lower-high structure intact.
Support: 0.6865, 0.6835, 0.6707
Resistance: 0.6940, 0.7000
What it said to watch
- Daily close below 0.6865 opens 0.6835 then 0.6707
- Reclaim of 0.6940 needed to negate the downside structure
- US JOLTS/NFP this week is the dominant catalyst for AUD/USD via Fed-hike pricing