AUD/USD technical analysis: Aussie softening near daily lows, sub -0.7060 resistance

• AUD/USD is pulling back down after hitting 2-month highs last week.
• The level to beat for bears are 0.7030 followed by 0.7015.

AUD/USD daily chart

The Aussie is trading in a bear trend below the 0.7100 figure and its 200-day simple moving average (DSMA).

AUD/USD 4-hour chart

AUD/USD is retracing down as the market is trading above the main SMAs. Bulls are losing momentum as they need to reclaim the 0.7060 resistance in order to climb back up to the 0.7100 handle.

AUD/USD 30-minute chart
 

AUD/USD is trading towards the daily lows as the market is challenging the 200 SMA near 0.7035. The market is in a correction down and a break below 0.7030 suport can lead to 0.7015 and 0.6980 level, according to the Technical Confluences Indicator.

Additional key levels