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AUDUSD falls back below the 200 day MA

Discover the latest analysis of AUD/USD price action in this informative video. Explore key levels and developments impacting the market.

Today, AUD/USD fell sharply after encountering selling pressure near the 100-day moving average. The subsequent decline took the price below the important 200-day moving average at 0.6725. Currently, the price is trading near the 50% midpoint of the move up from the April low at 0.6693, suggesting a consolidation phase.

Traders are closely watching for the next directional move. On the downside, the next target for sellers is between 0.6676 and 0.6680, with the 61.8% retracement at the significant 0.6666 level.
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