The hawkish Fed dot-plot knocked AUDUSD ~80 pips through 0.7050 mid-week, breaking the prior range and pinning price to the 0.7000 psych handle. Since then the pair has consolidated in a tight band, with a series of lower-highs capping bounces and RSI(14) stuck in the low-40s. Price sits below both EMA20 and EMA50, and rallies into the descending lower-highs have lacked follow-through.
Support: 0.7000, 0.69888
Resistance: 0.7035, 0.7050
What it said to watch
Hourly close below 0.6989 swing low confirms a fresh lower-low
Reclaim of 0.7035 range top challenges the lower-highs sequence
0.7050 / 100-day SMA is the bull recovery gate
Australia CPI Wed 01:30 UTC could materially shift this read
Consolidation pinned at 0.7000 after impulsive break.
AUDUSD broke ~80 pips through 0.7050 in the NY session midweek as the hawkish Fed dot-plot rebuilt USD demand, then printed a one-week low at 0.6990 before stalling on the 0.7000 handle. Price has spent the last day-plus coiling in a 0.6990-0.7020 band beneath EMA20 and EMA50, with RSI(14) holding mid-40s and rallies into 0.7037 capped. The 0.7000 psych level remains the battleground after the impulsive leg lower.
Support: 0.7000, 0.6990
Resistance: 0.7020, 0.7037, 0.7050
What it said to watch
Acceptance below 0.6990 confirms a fresh lower-low and reopens downside
An H1 close back above 0.7020 challenges the range cap toward 0.7050
Australia CPI Wed 24 Jun 01:30 UTC could materially shift this read