AUD/USD Price Analysis: Bears Step In After RBA Decision
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The AUD/USD suffered significant losses in Tuesday's session, reaching a daily low near 0.6400 with a decline of 1.05% and then stabilising around 0.6420. The Reserve Bank of Australia (RBA) hiked rates by 25 bps to 4.35% and left the door open to further increases, but the USD strength is pushing the pair downwards.
In line with that, the daily chart highlights a neutral to the bearish technical outlook for the AUD/USD, as signs of bullish exhaustion become evident after last week’s rally. The Relative Strength Index (RSI) has a negative slope above its midline, indicating weakening buying pressure, while the Moving Average Convergence (MACD) lays out lower green bars. Furthermore, the pair is above the 20-day Simple Moving Average (SMA) but below the 100 and 200-day SMAs, suggesting that the bears are in control of the larger context while bulls are still resilient, holding some momentum in the shorter time frame.
Indicators on the four-hour chart turned somewhat flat after sharply declining during the Asian session, indicating that the pair may face a consolidation in the short term.
Supports: 0.6400, 0.6365 (20-day SMA), 0.6350.
Resistances: 0.6440, 0.6460, 0.6500 (100-day SMA).
AUD/USD Daily chart
(Click on image to enlarge)
AUD/USD
| OVERVIEW | |
|---|---|
| Today last price | 0.6425 |
| Today Daily Change | -0.0064 |
| Today Daily Change % | -0.99 |
| Today daily open | 0.6489 |
| TRENDS | |
|---|---|
| Daily SMA20 | 0.6367 |
| Daily SMA50 | 0.6395 |
| Daily SMA100 | 0.6512 |
| Daily SMA200 | 0.6619 |
| LEVELS | |
|---|---|
| Previous Daily High | 0.6523 |
| Previous Daily Low | 0.6487 |
| Previous Weekly High | 0.6518 |
| Previous Weekly Low | 0.6315 |
| Previous Monthly High | 0.6445 |
| Previous Monthly Low | 0.627 |
| Daily Fibonacci 38.2% | 0.6501 |
| Daily Fibonacci 61.8% | 0.6509 |
| Daily Pivot Point S1 | 0.6476 |
| Daily Pivot Point S2 | 0.6464 |
| Daily Pivot Point S3 | 0.644 |
| Daily Pivot Point R1 | 0.6512 |
| Daily Pivot Point R2 | 0.6535 |
| Daily Pivot Point R3 | 0.6548 |
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