AUDUSD Consolidates Around Key Support Levels

AUDUSD remains in extended consolidation around the base of a thick daily cloud (0.6538) and above the pivotal Fibo support at 0.6528 (61.8% of 0.6362/0.6798), following a steep decline over the past nine days.

While the bears take a breather amid stretched daily studies, they remain dominant, supported by strong negative momentum and a bearish MA configuration, with several bear crosses. A firm break through the significant supports at 0.6538/28 would unmask targets at 0.6500/0.6465 (round figure / Fibo 76.4%).

So far, upticks remain capped below the upper pivot at 0.6586 (200DMA).

Markets are awaiting the release of US Consumer Confidence and JOLTS data for fresh signals.

Res: 0.6568; 0.6586; 0.6603; 0.6631
Sup: 0.6528; 0.6500; 0.6465; 0.6407