AUD/USD Price Analysis: Aussie drops on USD demand, nearing 11-year lows

• AUD/USD is under renewed selling pressure as the US dollar is ticking up.
• The level to beat for bears is the 0.6439 support.

AUD/USD daily chart

Extreme volatility conditions are making the aussie drop below the 0.6500 figure while trading well below its main daily simple moving averages (SMAs).

AUD/USD four-hour chart

AUD/USD is under selling pressure below the 0.6500 figure and the main SMAs. Bears seem to be in control as DXY is ticking up. Sellers would want to break below the 0.6439 level followed by the 0.6400 figure and the 0.6325 level on the way down, according to the Technical Confluences Indicator. On the flip side, resistance can be met near the 0.6500 figure and the 0.6550 level. 

Resistance: 0.6500, 0.6550, 0.6600

Support: 0.6439, 0.6400, 0.6325

Additional key levels