21:05 UTC
Downtrend, compressing into a range · RSI 46 · price 0.6970
Lower highs from the Sep high; 0.6894–0.7013 range with the floor tested twice.
The decline from the 9 Sep sept high at 0.7237 has built a steady lower-highs chain. Price sits below a rolling-over EMA(50) near 0.7055 (ema50). The last three weeks have compressed into a 0.6894–0.7013 band. Thursday's jobs-miss drop to the 0.6894 swing low was a false break of the early-October floor, reversed within a session as the USD softened on the AI-equity pullback and China's GDP beat lifted AUD. Price is now back near the range top, which coincides with the lower-highs line and the 38.2% retrace of the sept decline.
Support: 0.6894, 0.6865
Resistance: 0.7013, 0.7055, 0.7237
What it said to watch
- Daily close above the 0.7013 range top breaks the lower-highs line and opens the 0.7055 ema50 / 50% sept decline retrace zone
- Failure to hold the 0.6894 swing low exposes the 0.6865 june low and extends the downtrend sequence
- US flash PMIs (Fri 13:45 UTC) and the RBA Bullock speech (Fri 23 Oct 10:00 UTC) could materially shift this read