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fxJun 9, 2026, 5:40 PM

AUD/USD Correction Tests 0.7000 Support Ahead of 200-Day SMA

The Australian Dollar has pulled back to the 0.7000 support zone as it awaits a fresh catalyst to resume its uptrend from late March, with the 200-day SMA acting as a key technical level.

AUDUSD

The Australian Dollar continues to consolidate after its March rally, with AUD/USD now correcting toward the 0.7000 support area. The pair has been waiting for a new catalyst to push higher, but headwinds from US Dollar strength and geopolitical factors have weighed.

Traders are closely watching the 200-day Simple Moving Average, which could provide either support or resistance depending on the next directional move. The 0.7000 round number remains a key psychological and technical contention zone.

Without a fresh catalyst, the Aussie may struggle to regain its upward momentum from late March, though the overall trend still leans slightly bullish if the support holds.

Source: FXStreet Forex News