On the hourly chart of AUD/USD at FXOpen, the pair declined from the 0.6795 resistance. The Aussie Dollar dropped below the 0.6740 support to move into a short-term bearish zone.
It tested the 0.6690 support and is currently consolidating losses well below the 50-hour simple moving average. Immediate resistance is near the 0.6715 level.
The next major resistance is near the 50-hour simple moving average and the 50% Fib retracement level of the downward move from the 0.6793 swing high to the 0.6690 low at 0.6740. If there is an upside break above the 0.6740 zone, the pair could rise steadily toward the 0.6795 level in the near term.
Immediate support is near the 0.6690 level. The next key support is near the 0.6650 level. A downside break below the 0.6650 support could lead the pair toward the 0.6600 support.
