AUD/USD Could Drop to 0.6900 If It Breaks Below 0.6980
The Australian Dollar is trading slightly lower near 0.7003 against the US Dollar. A break below the 0.6980 support level could trigger a slide to 0.6900.
AUDUSD
During the European session, AUD/USD is trading around 0.7003, slightly in the red. Technical analysts note that if the pair breaks below the 0.6980 support zone, it could extend losses toward the 0.6900 handle.
No additional catalysts have been cited, as the move appears technical in nature. The current price action suggests downside risk remains elevated.
Source: FXStreet Forex News