AUD/USD is consolidating near 0.6900. The primary reasons are the negative trend in the stock markets and the decline in trade balance in China. Additional pressure is the potential 0.5% rate hike by the Fed in June.
technical picture:
The quote is currently under the middle line of the Bollinger indicator, at the SMA 5, but above the SMA 14. The relative strength index (RSI) is below 50% and is indicating a potential price increase, while the stochastic indicator is moving down .
Possible dynamics:
A consolidation below 0.6900 will develop a decline to 0.6800.
