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fxJun 23, 2026, 6:42 AM

AUD/USD Extends Losing Streak, Tests Descending Channel Bottom at 0.6950

The Australian dollar weakened for a sixth straight session, with AUD/USD hovering near 0.6960 and testing the lower boundary of a descending channel pattern, suggesting continued bearish pressure.

AUDUSD

AUD/USD continued its losing streak for the sixth consecutive day, trading around 0.6960 during Asian hours on Tuesday. The pair is testing the descending channel bottom near 0.6950, a key technical level.

The daily chart shows the pair remaining within a descending channel pattern, indicating a prevailing bearish trend. A break below 0.6950 could open the door for further downside, while a rebound from this level might lead to a short-term correction.

Source: FXStreet Forex News