The Aussie dollar remained in a bearish zone below the 0.6920 resistance area against the US Dollar. The AUD/USD pair broke many supports near the 0.6900 level to move into a short-term negative zone.
Moreover, the pair settled below the 0.6880 level and the 50 hourly simple moving average. The pair traded as low as 0.6847 and it is currently consolidating losses. On the upside, there are many resistances near the 0.6860 and 0.6880 levels.
Moreover, there is a connecting bearish trend line forming with resistance near 0.6860 on the hourly chart. Therefore, a clear break above 0.6860 might push the pair towards the 0.6880 resistance area.
On the downside, an initial support is near the 0.6845 level, below which the AUD/USD pair could extend its decline. The next key support area is near the 0.6820 level, followed by the 0.6800 area
