AUDUSD has trended lower since the early-May peak near 0.7277, carving lower highs and holding below a flattening EMA(50). The pair based around 0.6880 through mid-June and has recovered toward the 0.7000 psych area over the last two weeks, a USD-led move as soft US CPI/PPI repriced Fed expectations. Momentum is rebuilding off the base but 0.7015 remains a well-defined multi-week cap.
Support: 0.6885, 0.6835
Resistance: 0.7015, 0.7050, 0.7277
What it said to watch
Daily close above 0.7015 major resistance would break the lower-high sequence
Failure to hold 0.6885 swing low reopens 0.6835 structure
US Retail Sales Thu 12:30 UTC is the next USD catalyst for this pair
AUDUSD fell from the late-April 0.7277 high through June to the 0.6875 low, a roughly two-month sequence of lower highs and lower lows. Since late June price has based between 0.6880 and 0.6950, and this week's soft US CPI/PPI prints have lifted the pair back toward the 0.7000 psych level. Price has reclaimed EMA20 but sits below a still-falling EMA50 near 0.7050.
Support: 0.6882, 0.6835
Resistance: 0.7000, 0.7015, 0.7050
What it said to watch
Daily close above 0.7015 major res invalidates the lower-high sequence
Failure to hold 0.6835 structure opens deeper downside
US Retail Sales (Thu 12:30 UTC) is the next USD catalyst that could shift this read