Australian Dollar Bears Eye 200-Day SMA as Upside Stalls
The Australian Dollar remains unable to sustain upside momentum and trades below the key 0.7000 level, with bears now targeting the 200-day simple moving average.
AUDUSD
The Australian Dollar continues to struggle for upward traction, trading below the psychological 0.7000 handle. The persistent inability to break higher keeps the bearish pressure alive.
According to technical analysis, the constructive tone remains intact as long as the pair holds above its critical 200-day simple moving average. However, a break below that level could accelerate selling.
Source: FXStreet Forex News