Chart - Courtesy Trading View
Technical Analysis: Bias Bearish
AUD/USD was trading 0.80% higher on the day at 0.7150 at around 09:15 GMT.
The pair has retraced from two-month lows at 0.7054 and has edged above 0.71 handle.
200-week MA at 0.7147 is offering strong support and close below required for downside continuation.
Technical analysis points to further downside. Price action is below major moving averages which are trending lower,
Focus now on US Core Personal Consumption Expenditures Price Index for March, expected to ease to 5.3% YoY from 5.4% in the previous month.
Support levels:
S1: 0.7133 (5-DMA)
S2: 0.7062 (Lower BB)
Resistance levels:
R1: 0.72
R2: 0.7254 (200H MA)
Summary: AUD/USD recovery lacks traction. Major trend remains bearish. Break above 200H MA could change near-term dynamics.
