AUD/USD Struggles Near 0.6950 as Bears Retain Control Below 100-EMA
AUD/USD turned lower after a brief uptick to 0.6965, with sellers keeping the pair subdued near 0.6950 as the 100-EMA on the 4-hour chart caps upside.
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The Australian dollar gave back early gains against the US dollar on Thursday, reversing from an intraday high around 0.6965. The pair struggled to hold above the 0.6950 level, as sellers retained control.
The 100-period exponential moving average on the 4-hour timeframe continues to act as a barrier, reinforcing bearish momentum. As a result, AUD/USD remains under pressure near the session lows.
Source: FXStreet Forex News