AUD/USD technical analysis: Aussie is approaching the July highs, trading near 0.7040

• AUD/USD is picking up steam above 0.7030 support.
• The level to beat for bulls are 0.7060 followed by the 0.7100 handle.

AUD/USD daily chart

The Aussie is trading in a bear trend below its 200-day simple moving average (DSMA). It is currently challenging the weekly highs near 0.7040.

AUD/USD 4-hour chart
 

AUD/USD is nearing the July high near 0.7049 as the market is trading above its main SMAs. Bulls can drive the market towards 0.7060 and 0.7100 if they gather enoough steam.

AUD/USD 30-minute chart

AUD/USD is trading above the main SMAs suggesting bullish momentum in the near term. Supports are seen near 0.7030 and 0.7010, according to the Technical Confluences Indicator.

Additional key levels