AUD/USD Technical Analysis: Aussie erases RBA-inspired losses

AUD/USD daily chart

• AUD/USD is trading in a bear trend below its 200-day simple moving averages (SMA). 
• The Aussie dropped sharply in the Asian session on the back of a dovish Reserve Bank of Australia (RBA). This was seen as bearish for the AUD.

AUD/USD 4-hour chart

• AUD/USD is trading above its main SMAs suggesting a bullish bias in the medium-term.

AUD/USD 30-minute chart

• AUD/USD found support just above 0.7135. This was a support mentioned yesterday.
• AUD/USD is expected to consolidate between 0.7135 and 0.7180 for the time being.
• The key resistance to the upside becomes 0.7180 level.

Additional key levels