AUD/USD technical analysis: Aussie is trading below 0.6980 ahead of RBA

AUD/USD is under bearish pressure below the 0.7000 mark.
The level to beat for sellers is 0.6960.

Flavio Tosti Independent Analyst

Market participants will pay attention to the Reserve Bank of Australia (RBA) Rate Decision and Statement at 4:30 GMT. This can lead to high volatility on AUD-related pairs.

AUD/USD daily chart

AUD/USD is in a bear trend below the 100 and 200-day simple moving averages (DSMAs). The market is trading below the 0.7000 mark and is testing the 50 SMA.

AUD/USD 4-hour chart

The Aussie is testing the 0.6960 support and the 50 SMA. Further down lies 0.6930 and 0.6914 support according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading below its main SMAs suggesting bearish momentum in the near term. Resistances can be seen at 0.6980 and 0.7000 resistances.

Additional key levels

AUD/USD

Overview
Today last price	0.6964
Today Daily Change	-0.0056
Today Daily Change %	-0.80
Today daily open	0.702

Trends
Daily SMA20	0.6947
Daily SMA50	0.6961
Daily SMA100	0.7036
Daily SMA200	0.7102

Levels
Previous Daily High	0.7026
Previous Daily Low	0.6997
Previous Weekly High	0.7026
Previous Weekly Low	0.6926
Previous Monthly High	0.7026
Previous Monthly Low	0.6831
Daily Fibonacci 38.2%	0.7015
Daily Fibonacci 61.8%	0.7008
Daily Pivot Point S1	0.7003
Daily Pivot Point S2	0.6985
Daily Pivot Point S3	0.6974
Daily Pivot Point R1	0.7032
Daily Pivot Point R2	0.7043
Daily Pivot Point R3	0.7061

Author

Flavio Tosti

Independent Analyst

EUR/USD holds steady above 1.1850 in quiet session

EUR/USD stays defensive but holds 1.1850 amid quiet markets in the European hours on Monday. The US Dollar is struggling for direction due to thin liquidity conditions as US markets are closed in observance of Presidents' Day holiday.

GBP/USD flat lines near 1.3650 ahead of UK and US data

GBP/USD kicks off a new week on a subdued note and oscillates in a narrow range near 1.3650 on Monday. The mixed fundamental backdrop warrants some caution for aggressive traders as the market focus now shifts to this week's important data releases from the UK and the US.

Gold corrects lower, tries to stabilize above $5,000

Gold started the week under bearish pressure and declined to the $4,960 area before staging a modest rebound. As trading volumes remain thin with the US financial markets remaining closed on Presidents' Day holiday, XAU/USD looks to stabilize above $5,000 ahead of this week's key data releases.

Bitcoin consolidates as on-chain data show mixed signals

Bitcoin price has consolidated between $65,700 and $72,000 over the past nine days, with no clear directional bias. US-listed spot ETFs recorded a $359.91 million weekly outflow, marking the fourth consecutive week of withdrawals.

The week ahead: Key inflation readings and why the AI trade could be overdone

It is likely to be a quiet start to the week, with US markets closed on Monday for Presidents Day. European markets are higher across the board and gold is clinging to the $5,000 level after the tamer than expected CPI report in the US reduced haven flows to precious metals.

Monero Price Forecast: XMR risks a drop below $300 under mounting bearish pressure

Monero (XMR) starts the week under pressure, recording a 4% decline at press time on Monday after a 7% drop the previous day, putting the $300 support zone in focus.