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AUD/USD slips after testing resistance near 0.7050
The pair pulled back into the 0.7030 to 0.7025 area as the US dollar steadied, with the 100-day SMA near 0.7053 cited as the key near-term hurdle.
FXStreet says AUD/USD is retreating after reaching a fresh post-June 17 high around 0.7050, where price action ran into the 100-day Simple Moving Average at 0.7053.
Spot levels were described around 0.7030 to 0.7025 heading into the European session, as a firmer US dollar after a month-and-a-half low helped weigh on the pair.
The outlook remains supported by the technical setup, including last week’s breakout above 0.7020 tied to the 38.2% Fibonacci retracement of the May to June decline, with momentum indicators still supportive.
FXStreet notes that immediate resistance may persist at 0.7053, then 0.7069, and points to upside levels at 0.7117 and 0.7184 if a daily close clears the area. On the downside, it lists support near 0.7021, then 0.6962, and the 200-day SMA around 0.6913, with a structural floor cited near 0.6867.