Selling AUDUSD during corrective rebound to 0.69900

The daily AUDUSD chart shows that the pair keeps sliding down with no signs of relief. But there is a chance for a short-term rebound, given how deeply oversold some indicators have become.

The Relative Strength Index (RSI) has recently dropped to 24, signaling clear bearish sentiment. The indicator has not yet reached the critical zone below 20, but current readings suggest that sellers have the upper hand, and the market is approaching conditions, which often precede a short-term correction.

The Chaikin Oscillator sits in negative territory, confirming massive capital outflows and sellers’ dominance. However, it has not fallen to the levels seen in early June. At the same time, prices are currently lower than at the beginning of the month, creating a faint divergence. This signals that bearish momentum may be gradually losing steam, though there are no visible signs of a full-fledged reversal.

The Oscillator of Moving Average (OsMA) is below the neutral line, once again telling us that sellers remain in control. The bar chart shows no accelerating increase in negative columns, indicating that the pace of decline is slowing. This aligns with the picture painted by the Chaikin Oscillator. So, selling momentum is still strong but without clear acceleration—leaving room for consolidation or a corrective rebound before the next leg lower.

On the fundamental front, the AUDUSD dynamic remains under pressure due to a shift in the Federal Reserve’s (Fed) monetary stance under the new Chairman, Kevin Warsh. Markets are currently pricing in a rate hike as early as September. Therefore, the dollar index (DXY) appears glued to yearly highs.

Fresh business activity data from Australia came in above expectations, providing slight support to the Aussie. This week’s key events will be the country’s inflation and labor market reports, which are likely to shape the central bank’s policy path. Weak results would weigh on the national currency, while elevated consumer prices could temporarily underpin the pair.

Take into account the trading plan down below:

Sell AUDUSD during a corrective rebound to 0.69900. Place Take profit at 0.68900 and Stop loss at 0.70500.

The forecast remains relevant between June 23 and June 30, 2026.