Forex
Home›Forex›Major Pairs›AUD/USD slips near 0.6930 on US-Iran tensions and risk…
AUD/USD slips near 0.6930 on US-Iran tensions and risk aversion
AUD/USD is moving lower toward 0.6930 as Trump reinstates a naval blockade aimed at Iranian shipping and fears around higher oil prices strengthen demand for the USD.
FXStreet reports AUD/USD is trading lower near 0.6930 on Monday, retreating from an opening level around 0.6950. The move reflects escalating US-Iran tensions that are boosting the safe-haven US dollar while weighing on the risk-sensitive Australian dollar.
The developments follow remarks from US President Donald Trump that the Strait of Hormuz would remain open “with or without Iran,” along with a decision to reinstate a naval blockade targeting Iranian shipping. Trump also said the US would seek reimbursement at a 20% rate on cargo passing through the waterway, while Iran rejected the statements and said the US has no role in determining the strait’s future.
The standoff has pushed oil prices higher and raised concerns that energy costs could keep global inflation elevated, a dynamic that supports Greenback demand in FX markets. FXStreet also points to upcoming market focus on China data and the US June CPI release, with investors watching whether cooling inflation supports expectations for the next policy steps.
For near-term trading, FXStreet notes AUD/USD around 0.6934 on the 4-hour chart, holding just above the 100-period simple moving average near 0.6930 but capped by the 20-period SMA around 0.6940. The report describes the setup as broadly neutral with consolidation, citing resistance just above current levels and an RSI near 48.