AUD/USD Technical Analysis

The Australian dollar has fallen pretty significantly, and again, this is not a huge surprise, mainly due to the fact that we’re still very sideways overall. At this point, the market looks as if the 0.67 level above is a significant resistance barrier, and underneath the market right now, we have the 0.65 level that offers support, as well as the 0.6550 level.

In other words, I think we continue to see a lot of back and forth, and with that being said, I don’t really think much has changed, quite frankly, and now we’re just looking for hard economic data to start moving on again. In the meantime, if you’re a short-term range-bound trader, you’ve got a couple of levels to pay close attention to. With that being said, it’s a market that is likely still just sitting around and waiting to see whether or not it becomes more risk on, or if it becomes more risk averse.