AUD/USD Price Analysis: Aussie trades in 7-day lows near 0.6300 figure

 

 

AUD/USD is trading in 7-day lows below the main SMAs on the daily chart as the bullish recovery started in mid-March is taking a breather. 

 

 

 

AUD/USD is challenging the 0.6260 level while holding above the 100 and 200 SMAs retaining a bullish bias in the medium-term. Bulls see this as a buying opportunity as the bullish recovery is still in place. A potential bounce could find resistance near 0.6350 level while further weakness could open the gates to the 0.6200 figure and the 0.6140 level.