AUD/USD slides toward 0.6970 as 38.2% Fibo hurdle holds firm
The pair weakened during Asia trade after failing to breach the 0.7000 mark and 38.2% Fibonacci resistance.
AUDUSD
AUD/USD faced follow-through selling in the Asian session after bulls were unable to secure a foothold above 0.7000 the prior day. The rejection at the psychological level coincided with a failure to overcome the 38.2% Fibonacci retracement hurdle, prompting a retreat toward 0.6970.
The move extends the pair’s inability to sustain upside momentum, keeping the near-term bias tilted lower as sellers defend the Fibo resistance area.
Source: FXStreet Forex News