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AUD/USD Price Analysis: Aussie sidelined below 0.6881 resistance

  • AUD/USD is under selling pressure below the 0.6881 resistance.
  • The level to beat for sellers is the 0.6831 support. 
 
 

AUD/USD daily chart

 
AUD/USD is under bearish pressure near the January lows while trading below its main daily simple moving averages (SMAs) suggesting an underlying bearish bias. The market is challenging an ascending trendline. The market is now sidelined with bears wanting to pierce below the 0.6831 support. A daily close below this level can see further declines towards the 0.6790 and 0.6767 levels, according to the Technical Confluences Indicator. Resistance is seen at the 0.6892 and 0.6918 level.s 
 

Additional key levels 

 

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