The bearish trend on AUD/USD continues to dominate, as the pair has successfully broken a key support level around 0.6320. This breakdown confirms the strength of the bearish momentum, with USD gaining further strength across the board due to positive macroeconomic factors.
Key Points:
Trend: Bearish.
Broken Support: The price has breached the critical 0.6320 support, turning it into a resistance level.
Fundamental Outlook: USD strength is supported by robust economic data, adding downward pressure on AUD/USD.
Expectation:
Further downside is likely, with potential targets around 0.6044, 0.5941, and 0.5795 in the medium term.
Traders should monitor for any retracements toward the resistance zone, which could offer fresh selling opportunities.