AUD/USD technical analysis: Aussie reclaims the 0.6950 level ahead of the FOMC minutes

• AUD/USD is gaining bullish momentum as the US Dollar is weakening.
• Investors will pay close attention to the FOMC minutes at 18.00 GMT.

AUD/USD daily chart

The Aussie is trading in a bear trend below its 100 and 200-day simple moving averages (DSMAs). The US Dollar is weaker across the board sending AUD/USD up.

AUD/USD 4-hour chart

 
AUD/USD is trading above its 200 SMA suggesting potential bullish momentum. The level to beat for bulls is 0.6980 followed by 0.7017, according to the Technical Confluences Indicator.

AUD/USD 30-minute chart
 

AUD/USD is trading between the 100 and 200 SMAs suggesting a consolidation in the near term. Support is seen at 0.6951 and 0.6920, according to the Technical Confluences Indicator.

Additional key levels