22:06 UTC
Downtrend, lower high in place · RSI 46 · price 0.69667
LH/LL sequence from the Sept high; 50% retracement rejected at 0.7068.
AUDUSD has traced lower highs since the 0.7237 sept high. The October bounce off the 0.6894 october low stalled at 0.7068, almost exactly the 50% retracement of that slide, and formed a lower high. This week's dovish RBA hike sent price back below the 0.7000 round number and both EMAs to the 0.6961 two-week low, with AUD failing to gain on a soft USD.
Support: 0.6961, 0.6894
Resistance: 0.7000, 0.7068, 0.7237
What it said to watch
- A daily close below the 0.6961 two-week low extends the lower-low chain toward the 0.6894 october low
- Reclaiming the 0.7000 round number and EMA20 would neutralise the latest leg down
- A close above the 0.7068 lower high breaks the LH/LL structure and reopens the path toward the 0.7237 sept high
- AU PMIs just released and US midterm results overnight could materially shift this read
- US ADP and ISM Services Wed and AU trade balance Thu are near-term catalysts; iron ore remains the key AUD driver