AUD/USD remains capped by 0.7400

As most pairs in the FX space, AUD/USD has been confined to a phase of consolidation this Friday, as investors continue to assess this week’s events, ranging from Fed’s decision to the kill of a UK PM and the suspension of Brexit campaigns.

AUD/SUD recovered more than a hundred pips from yesterday’s lows but the 100-day SMA capped the upside at the 0.7400 area. The pair has spent the last hours in a 30-pip range, unable to set a short-term direction. At time of writing, the pair is trading at 0.7393, 0.43% above its opening price.

AUD/USD levels to watch

In terms of technical levels, next resistances could be found at 0.7400 (100-day SMA), 0.7420 (Jun 14 high), 0.7441 (50-day SMA) and and 0.7504 (Jun 9 high). On the flip side, supports are seen at 0.7360 (Jun 17 low),  0.7315 (Jun 6 low),  0.7285 (Jun 16 low) and 0.7270 (200-day SMA).