AUDUSD has rolled over into a clear downtrend since topping near 0.7277 in early May, carving lower highs and lower lows and now pressing two-month lows around 0.6982. The latest leg broke the 0.7000 psychological pivot, with price trading below both EMA20 and EMA50 as USD strength and soft AU/China data weigh. RSI near 32 is approaching oversold but has not yet diverged.
Support: 0.6975, 0.6833
Resistance: 0.7000
What it said to watch
RBA rate decision + statement Tue 04:30 UTC is the dominant catalyst — statement tone could materially shift this read
Repeated daily closes back above 0.7000 psych would challenge the breakdown
Failure to hold 0.6975 next level opens the path toward the 0.6833 swing low
The Feb–early-May uptrend topped near 0.7277 and has unwound over the last five weeks, with price now back below EMA(50) on D1 and pressing the 0.7000 psychological pivot. This week's close under 0.7000 confirms the lower-high chain, driven by USD strength into FOMC and softening AU data ahead of Tuesday's RBA decision. RSI sub-35 reflects sustained downside momentum but is not yet at extreme.
Support: 0.6975, 0.6864
Resistance: 0.7000
What it said to watch
RBA decision Tue 04:30 UTC — statement tone is the catalyst, a dovish shift could resume pressure
Daily close back above 0.7000 would ease the bearish read
Failure to hold 0.6975 exposes the 0.6864 swing low