What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

How will Powell's speech affect the AUD/USD?

The US Dollar strengthens ahead of Powell’s speech. RBA Bullock kept hopes of further rate-tightening alive, citing that the progress in inflation declining to 2% has slowed. On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505).

Why did AUD/USD fall to 0.6400?

AUD/USD falls to near 0.6400 as the appeal for the US Dollar improves. The US Dollar strengthens ahead of Powell’s speech. RBA Bullock kept hopes of further rate-tightening alive, citing that the progress in inflation declining to 2% has slowed.