Last time we looked at $AUDUSD, we saw that it broke below a key support and was moving towards the next one around 0.6825.AUD/USD Falls to Key Support Around 0.6825However, price didn't get there before rebounding to $0.70.AUD/USD Daily Chart(click to enlarge)Bears Still in Charge:- After this rally, price retreated from 0.70.- Price action this week has so far been bearish with price falling below a support around 0.6950 and a recent rising trendline.- Meanwhile, price held under the cluster of moving averages and the RSI turned down under 60. - These are all signs that bears are still in charge.- The 0.6825 area might still be in sight, but I suspect AUD/USD will find support around there. Interest Rate Spread:- The RBA has been dovish and has cut the cash rate to a historic rate of 1.25%. - Meanwhile, the Fed is also starting to look dovish and rate cut expectations are rising. - The thing is RBA has pulled the trigger while the Fed has been steady in 2019. - But I suspect as price approaches 0.6825, rate cut expectations could creep into the pricing of AUD/USD and it might find support and rebound as it did in May. A Fed Rate Cut Looks More Likely. The Question Is When and by How Much (Bloomberg 6/9)RBA slashes cash rate to all-time low of 1.25 per cent (news.com.au 6/4)