Australian Dollar Technical Outlook: AUD/USD Slides into Fibonacci Support at 70 Cents
AUD/USD plunged nearly 3.8% off the yearly high with the decline now testing pivotal support. Battle lines drawn on the Aussie technical charts.
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Australian Dollar Technical Outlook: AUD/USD Multi-Timeframe Analysis
AUD/USD is testing a critical Fibonacci confluence at the 70-cent handle after a 3.8% decline from its yearly high, with US CPI, FOMC and RBA decisions all due within days. Michael Boutros, Senior Market Analyst at FOREX.com, maps the multi-timeframe breakdown and explains what a sustained close below 70 could trigger for AUD/USD.
This content was created by an affiliate of FOREX.com and represents the views and opinions of the author/speakers, not the views and opinions of Forex.com, StoneX Group Inc., or its subsidiaries. The content has not been independently reviewed by FOREX.com.
AUD/USD Key Economic Data Releases
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Active Short-term Technical Charts
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- Gold Price Short-term Outlook: XAU/USD Rebounds Hard from Key Support—Is the Bottom In?
- Japanese Yen Short-term Outlook: USD/JPY Breakout Looms as Intervention Risk Rises
--- Written by Michael Boutros, Sr Technical Strategist
Follow Michael on X @MBForex
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