31 Jul 2019
AUD/USD technical analysis: Aussie stabilizing below 0.6900 figure ahead of the FOMC
- AUD/USD corrected up to the 0.6900 figure following the recent selloff.
- Market participants are waiting for the FOMC at 18:00 GMT.
AUD/USD daily chart
The Aussie is trading in a bear trend below the main daily simple moving averages (DSMAs). The market is correcting us ahead of the FOMC meeting at 18:00 GMT. The Federal Reserve is widely expected to cut 25 bps.
AUD/USD 4-hour chart
The Aussie is trading well below its main SMAs as the market found some resistance at the 0.6900 level. Sellers want a continuation of the bear rally by driving the market towards 0.6870, 0.6857 and the 0.6830 level according to the Technical Confluences Indicator.
AUD/USD 30-minute chart
AUD/USD is trading between the 50 and 200 SMAs, suggesting a consolidation in the near term. Immediate resistances can be seen near 0.6900, 0.6920 the 0.6940 level according to the Technical Confluences Indicator.
Additional key levels