AUD/USD fails to hold above 0.7000 despite two intraday attempts
AUD/USD rose about 0.2% on Monday but was sold back below 0.7000 after twice breaching the level. The pair remains stuck near the key resistance, unable to sustain a breakout.
The Australian Dollar tested the 0.7000 figure against the US Dollar twice during Monday’s trading session, but sellers stepped in each time to push the pair back lower. AUD/USD traded up roughly 0.2% on the day, recovering from an early low near 0.6950 before repeatedly failing to hold above the psychologically important level.
Market participants noted the continued rejection at 0.7000, suggesting the pair lacks momentum for a clean breakout. Price action remains range-bound, with the Aussie struggling to establish a foothold above resistance despite the modest daily gain.
Source: FXStreet Forex News