AUD/USD technical analysis: Aussie falling below the 0.7000 handle

• AUD/USD is moving down sharply below the 0.7000 figure.
• The level to beat for bears is 0.6960. 

AUD/USD daily chart

AUD/USD is trading in a bear trend below its 100 and 200-day simple moving averages (DSMAs). The market is trading below the 0.7000 mark.

AUD/USD 4-hour chart

The Aussie made a sharp move down as it is testing the 50 SMA and 0.6960 support. Further down lies 0.6930 and 0.614 support according to the Technical Confluences Indicator.

AUD/USD 30-minute chart

AUD/USD is trading below its main SMAs suggesting bearish momentum in the near term. Resistance is at 0.7000.

Additional key levels