AUD/USD Price Analysis: Aussie under pressure near January lows

 

 

 

AUD/USD is hovering near the monthly lows while trading below the 50/100 and 200-day simple moving averages (SMAs), suggesting an overall bearish momentum.

 

 

AUD/USD is under bearish pressure below the main SMAs and the 0.6854 resistance. Bears are trying to drive the market below the 0.6835 support. A daily close below this level can lead to further downside towards the 0.6792 level, according to the Technical Confluences Indicator. Resistance is seen at the 0.6892, 0.6920 and 0.6937 level.