AUD/USD technical analysis: Aussie challenging the 0.7000 figure ahead of Australian GDP

• The Australian Gross Domestic Product (GDP) for the first quarter is scheduled at 1:30 GMT this Wednesday. The economic numbers can provide a lot of volatility on AUD-related pairs.
• AUD/USD is currently challenging the 0.7000 figure ahead of the data.

AUD/USD daily chart

AUD/USD is trading in a bear trend below its main simple moving averages (SMAs). 

AUD/USD 4-hour chart

AUD/USD is challenging the 0.7000 figure and the 200 SMA.

AUD/USD 30-minute chart

A successful breakout beyond 0.7000 should send the Aussie to 0.7050 resistance. On the flip side, if the GDP data disappoints, the market can retrace towards 0.6960 and 0.6930.   

Additional key levels