AUD/USD Price Analysis: Aussie ticking down below 0.6300 on greenback strength

 

 

 

AUD/USD is consolidating the recent recovery losing steam below the 0.6300 figure and the 50 SMA on the daily chart. 

 

 

 

AUD/USD is challenging the 50 SMA on the four-hour chart while nearing the 0.6260 support level. It will be interesting to see if the market can hold this level or if the spot will break it and potentially reach the 0.6200 figure. Resistance is seen near 0.6350 and 0.6400 levels.