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fxJul 7, 2026, 4:40 AM

AUD/USD Pulls Back From Two-Week High, 38.2% Fibo in Focus

The AUD/USD pair edged lower on Tuesday after hitting a two-week high near 0.6960, snapping a three-day winning streak. The 38.2% Fibonacci retracement level around 0.6955 is seen as key support.

AUDUSD

The Australian dollar retreated modestly during the Asian session on Tuesday, easing from the 0.6960 area—its highest level in two weeks. This pullback ended a three-day advance for the AUD/USD pair.

Traders are now watching the 38.2% Fibonacci retracement level near 0.6955, which is expected to act as a key support zone in the near term. A break below that level could signal further downside, while a rebound may keep the pair's recovery intact.

The move comes amid a broader consolidation in the forex market, with the US dollar showing mixed performance against major peers.

Source: FXStreet Forex News