As it retreats from a short-term downward-sloping resistance line early on Friday, the AUD/USD breaks a two-day rally.
Even so, the Aussie pair’s downside is constrained by the market’s laxity and the holiday spirit, so the quote is still only mildly offered at 0.6770 as of the time of publication.
However, the immediate fall of the AUD/USD pair is constrained by the 50-HMA level near 0.6755.
Alternatively, for the negative bias to be pushed back, recovery moves must cross the Wednesday falling trend line, about 0.6785.
However, the weekly top that surrounds the round number 0.6800 serves as an additional filter to the north before allowing the AUD/USD bulls to enter.
Overall, the AUD/USD pair is still inactive even as the bears attempt to regain the upper hand.
