• The unemployment rate in Australia is forecast to slow down to 5.1% in May.
  • The US Dollar is on the rise across the board, sending AUD/USD down.

AUD/USD daily chart

AUD/USD is trading in a bear trend below its main daily simple moving averages (DSMAs). The market is trading at its lowest in 7 days.

AUD/USD 4-hour chart

AUD/USD is about to end the day on its low and below its main SMAs.

AUD/USD 30-minute chart

AUD/USD is under bearish pressure below its main SMAs. A sustained break below 0.6930 can send the Aussie to 0.6900 and 0.6880/70. Resistances are seen at 0.6960 and 0.7000 levels.

Additional key levels