#AUDUSD @ 0.67167 takes offers to refresh intraday low after RBA Minutes, PBOC rate announcement. (Pivot Orderbook analysis)

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• AUD/USD takes offers to refresh intraday low after RBA Minutes, PBOC rate announcement.
• RBA Board showed readiness to do what is necessary to tame inflation, PBOC keeps LPRs unchanged.
• Risk appetite weakens as full markets propel yields ahead of the key central banks’ announcements.
• Qualitative catalysts, second-tier housing data to entertain traders before Fed’s monetary policy announcements.

The pair currently trades last at 0.67167.

The previous day high was 0.6734 while the previous day low was 0.6672. The daily 38.2% Fib levels comes at 0.671, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6696, expected to provide support.

AUD/USD snaps a two-day uptrend while holding lower grounds near the daily bottom surrounding 0.6715 after the latest announcements from the Reserve Bank of Australia (RBA) and the People’s Bank of China. Also weighing on the Aussie pair could be the traders’ cautious mood amid full markets, after the week-start holidays in the UK and Japan.

RBA Minutes showed that the policymakers are well prepared for further rate hikes to tame inflation. However, the statements like, “Interest rates have increased quite quickly and were getting closer to normal settings,” seem to weigh on AUD/USD prices of late.

Also, the People’s Bank of China (PBOC) keeps the one-year and five-year Loan Prime Rate (LPR) unchanged at 3.65% and 4.30% respectively, which in turn poured cold water on the face of expectations of a rate cut and weigh on Aussie prices.

Elsewhere, a run-up in the US Treasury yields and the fears surrounding the Sino-American tussles, not to forget the market’s anxiety ahead of Wednesday’s Federal Open Market Committee (FOMC), seems to challenge the sentiment, as well as drown the AUD/USD.

Amid these plays, the US stock futures pare early Asian session gains and the US Treasury yields grind higher. It’s worth noting that the Japanese government bond yields rallied to the six-year high and portrayed the market’s rush towards risk-safety amid the fears of recession, as well as higher rates.

That said, AUD/USD traders may witness further downside amid the pre-Fed woes. However, today’s second-tier US housing data and chatters surrounding China can entertain traders.

AUD/USD remains on the bear’s radar unless crossing a convergence of the two-week-old horizontal resistance area comprising the 50-SMA, around 0.6770.

Technical Levels: Supports and Resistances

AUDUSD currently trading at 0.6724 at the time of writing. Pair opened at 0.6726 and is trading with a change of -0.03% % .

The pair remains strongly bearish on the daily time frame. It trades below the 20 SMA @ 0.6818, 50 SMA 0.6888, 100 SMA @ 0.6948 and 200 SMA @ 0.7105.

The previous day high was 0.6734 while the previous day low was 0.6672. The daily 38.2% Fib levels comes at 0.671, expected to provide support. Similarly, the daily 61.8% fib level is at 0.6696, expected to provide support.

Note the levels of interest below:

• Pivot support is noted at 0.6687, 0.6649, 0.6625
• Pivot resistance is noted at 0.6749, 0.6773, 0.6811

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