AUD/USD Price Forecast: Slips below 0.6900 as bearish bias prevails
- AUD/USD may find primary support at the nine-month low of 0.6833.
- The 14-day Relative Strength Index is at 35, signaling potential momentum exhaustion.
- The initial barrier lies at the nine-day EMA of 0.6970.
AUD/USD loses ground for the second consecutive day, trading around 0.6880 during Asian hours on Friday. The technical analysis of the daily chart suggests that the currency pair is remaining within a descending channel pattern, indicating a prevailing bearish bias.
The AUD/USD pair is keeping a bearish near-term tone as spot holds below both the nine-day and 50-day Exponential Moving Averages (EMAs). The configuration of short- and medium-term EMAs above price suggests rallies are likely to face supply, while the 14-day Relative Strength Index (RSI) near 35 avoids oversold territory, hinting that downside pressure persists but without capitulation. The latest reading of the FXS Fed Sentiment Index above 144 adds a headwind backdrop, reinforcing the notion of a market still inclined to fade bounces.
The AUD/USD pair may fall toward initial support at the nine-month low of 0.6833, which was recorded on March 30. A break below this level would open the door for the pair to navigate the region around the lower boundary of the descending channel around 0.6660.
On the upside, the AUD/USD pair may rebound and test the primary resistance at the nine-day EMA of 0.6970. Further barrier lies at the 50-day EMA of 0.7018, followed by the upper boundary of the descending channel around 0.7030. A break above the channel would support the pair to explore the region around 0.7277, the highest since April 2022.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.32% | 0.25% | 0.21% | 0.27% | 0.70% | 0.60% | 0.05% | |
| EUR | -0.32% | -0.08% | -0.14% | -0.04% | 0.38% | 0.28% | -0.27% | |
| GBP | -0.25% | 0.08% | -0.04% | 0.04% | 0.46% | 0.36% | -0.20% | |
| JPY | -0.21% | 0.14% | 0.04% | 0.09% | 0.51% | 0.41% | -0.15% | |
| CAD | -0.27% | 0.04% | -0.04% | -0.09% | 0.42% | 0.32% | -0.24% | |
| AUD | -0.70% | -0.38% | -0.46% | -0.51% | -0.42% | -0.09% | -0.65% | |
| NZD | -0.60% | -0.28% | -0.36% | -0.41% | -0.32% | 0.09% | -0.54% | |
| CHF | -0.05% | 0.27% | 0.20% | 0.15% | 0.24% | 0.65% | 0.54% |
The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).
