# Australian Dollar Slips Under 0.7000 as Markets Wait for US PCE Inflation Data

> AUD/USD is trading at 0.6997 on the 4-hour chart, holding below the 20-period and 100-period SMAs, with the RSI near 38 reflecting persistent bearish pressure ahead of the US PCE inflation data release.

**Type:** article · **Category:** Market · **Published:** 2026-06-22 · **Source:** TrendKia
**Canonical:** https://trendkia.com/en/market/us-pce-deta-se-pahale-australian-dollar-0-7000-ke-niche-bikavali-ka-dabava-jari-2341 · **Language:** English
**Tags:** AUD/USD, Australian Dollar, US PCE Data, Forex, Technical Analysis, SMA, RSI, US Dollar

The Australian Dollar has dipped below the psychologically significant 0.7000 mark, with AUD/USD changing hands at 0.6997 on the 4-hour chart as currency markets hold their breath before the release of US Personal Consumption Expenditures (PCE) inflation data. The pair's position beneath key technical levels keeps the near-term outlook firmly tilted to the downside.

## Moving Averages and RSI Confirm Bearish Bias
AUD/USD is currently sitting below both the 20-period Simple Moving Average at approximately 0.7013 and the 100-period SMA near 0.7075, with both averages acting as dynamic resistance above the current price. This positioning confirms the prevailing bearish trend in the near term. Adding to the cautious picture, the Relative Strength Index is hovering around 38, a reading that reflects sustained selling pressure and offers no indication that a meaningful recovery is gathering momentum.

## Resistance Levels Capping Any Recovery
On the upside, buyers face their first test at 0.7002. Beyond that point, a denser and more formidable cluster of resistance stretches between 0.7013 and 0.7020, where a horizontal cap converges with the 20-period SMA to form a firm ceiling. A sustained and convincing break above this zone would be required before selling pressure begins to ease in any meaningful way. Should such a move occur, the 100-period SMA near 0.7075 would then stand as the next major resistance barrier for any recovery attempt.

## Support Levels and Downside Risk
On the lower side, AUD/USD finds its first significant floor at 0.6995, where a horizontal support level offers a near-term buffer against deeper losses. A break below this mark would increase the risk of an accelerated decline, as the next layers of support lie further below with little in between to slow the move.

_Note: The technical analysis included in this report was produced with the assistance of an AI tool._

## What this means for you
- **For forex traders:** With AUD/USD below 0.7000 and the RSI near 38, the near-term bias remains bearish and caution is warranted. The outlook will only become clearer once the US PCE inflation data is released.
- **For investors:** A break below 0.6995 could accelerate losses, while a sustained close above the 0.7013 to 0.7020 resistance zone is needed before any bullish case can be built.

## Questions & Answers

### 1. Where is AUD/USD currently trading?
AUD/USD is trading at 0.6997 on the 4-hour chart.

### 2. What does an RSI near 38 indicate for AUD/USD?
An RSI near 38 signals persistent downside pressure and suggests there is no imminent recovery gaining momentum.

### 3. Where is the key resistance zone for AUD/USD?
A dense resistance cluster between 0.7013 and 0.7020 is the main hurdle, where a horizontal cap aligns with the 20-period SMA.

### 4. What is the first support level for AUD/USD?
The first meaningful support is at 0.6995, where a horizontal floor provides a buffer against further declines.

### 5. What US data are markets waiting for?
Markets are awaiting the release of US Personal Consumption Expenditures (PCE) inflation data.

### 6. Where are the 20-period and 100-period SMAs positioned?
The 20-period SMA sits at approximately 0.7013 and the 100-period SMA is near 0.7075, both above the current price.

### 7. What is the first resistance level above the current price?
The first resistance is at 0.7002, beyond which a more formidable cluster of resistance lies between 0.7013 and 0.7020.

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