Key Moments
- AUD/USD traded near 0.6930 during Asian hours after dropping 0.5% in the prior session.
- Momentum indicators, including a 14-day RSI around 40, continued to reflect bearish pressure.
- The pair confronted resistance at the nine-day EMA near 0.6932 while remaining within a descending channel.
Downtrend Intact Despite Modest Intraday Rebound
AUD/USD was slightly firmer around 0.6930 during Asian trading on Tuesday after recording losses of 0.5% in the previous session. On the daily chart, the pair continued to trade inside a descending channel, reinforcing a broader negative bias for the currency pair.
From a short-term perspective, AUD/USD stayed under pressure as it held below both the nine-day and 50-day Exponential Moving Averages (EMAs). While the pair tried to consolidate following recent declines, the 14-day Relative Strength Index (RSI) hovered near 40, indicating only limited recovery strength and suggesting that any bounce could remain constrained while price action trades under these clustered EMA levels.
Downside Scope and Key Support Zones
If selling resumes, AUD/USD may slide toward the nearly six-month low at 0.6833, which was registered on March 30. A break below that level would put focus on the lower boundary of the descending channel, located around 0.6770, as the next potential downside area.
Resistance Levels and Potential Bullish Trigger
On the upside, the pair was probing immediate resistance at the nine-day EMA near 0.6932. Above that, the upper edge of the descending channel, around 0.6960, formed the next technical barrier. A convincing move beyond the channel top would signal a bullish breakout and could open the way for a test of the 50-day EMA at 0.7011.
AUD/USD: Daily Chart
Australian Dollar Performance Against Major Currencies
The following table presents the percentage change of the Australian Dollar (AUD) versus major currencies today. According to this snapshot, the Australian Dollar showed its strongest performance against the US Dollar.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | -0.11% | -0.10% | -0.13% | -0.18% | -0.17% | -0.75% | -0.16% | |
| EUR | 0.11% | 0.00% | 0.00% | -0.07% | -0.07% | -0.63% | -0.05% | |
| GBP | 0.10% | -0.00% | 0.00% | -0.06% | -0.05% | -0.64% | -0.05% | |
| JPY | 0.13% | 0.00% | 0.00% | -0.06% | -0.07% | -0.65% | -0.07% | |
| CAD | 0.18% | 0.07% | 0.06% | 0.06% | -0.01% | -0.57% | 0.01% | |
| AUD | 0.17% | 0.07% | 0.05% | 0.07% | 0.00% | -0.57% | 0.03% | |
| NZD | 0.75% | 0.63% | 0.64% | 0.65% | 0.57% | 0.57% | 0.59% | |
| CHF | 0.16% | 0.05% | 0.05% | 0.07% | -0.01% | -0.03% | -0.59% |
The heat map illustrates how major currencies moved against each other. The base currency is taken from the left-hand column, and the quote currency from the top row. For instance, selecting the Australian Dollar as the base currency on the left and moving horizontally to the US Dollar column shows the percentage change for AUD (base)/USD (quote) in the corresponding cell.
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