AUD/USD analysis: about to challenge key multi-week low

Valeria Bednarik FXStreet

AUD/USD Current price: 0.7796

The AUD/USD pair fell to end the day a few pips below the 0.7800 level, not far from the multi-week low set this past Tuesday at 0.7785. The Aussie came under selling pressure at the beginning of the day, after Australian retail sales came in below expected, falling by 0.6% in August, against market's forecast of a 0.3% gain. Also, July’s flat result was revised down to -0.2% . The year-on year reading slowed to 2.1%, the weakest pace of growth since June 2013. The contraction in sales offset a positive trade balance outcome, as the surplus was larger-than-expected, up to 989M in August, while previous month's result was upwardly revised to 808M, with the advance attributed to rising exports of iron ore to China. The pair is biased lower according to technical readings in the 4 hours chart, as the pair extended lower after breaking below its 20 SMA, now gaining downward strength around 0.7830, while technical indicators head south within negative territory, with a strong downward momentum. A break below the mentioned weekly low should fuel the decline, although a relevant support stands not far below, at 0.7749, March 21st high.

Support levels: 0.7785 0.7750 0.7710

Resistance levels: 0.7830 0.7865 0.7900

View Live Chart for the AUD/USD

Author

Valeria Bednarik

FXStreet

Valeria Bednarik was born and lives in Buenos Aires, Argentina. Her passion for math and numbers pushed her into studying economics in her younger years.

GBP/USD stays positive near 1.3450 after UK jobs data

GBP/USD recovers ground and tests 1.3450 in early Europe on Tuesday. The UK ILO Unemployment Rate remained at 4.9% in the three months to May, compared with expectations of 5%, but fails to provide any impetus to the British Pound's renewed uptick. Traders stay cautious amid US-Iran uncertainty and the UK political transition.

EUR/USD steadies above 1.1400, awaits German ZEW Survey

EUR/USD is consolidating above the 1.1400 mark in European trading on Tuesday. The pair lacks any directional impetus amid a subdued US Dollar price action and ahead of the German ZEW Survey.

Gold: Acceptance above 21-day SMA at $4,065 is critical for buyers

Gold is building on its recovery from two-week lows of $4,024 reached last Friday, extending the winning streak into a third straight day on Tuesday. XAU/USD is capitalizing on the ongoing pullback in Oil prices from monthly highs near $84.50. The black gold is retreating for a second day in a row on emerging signs of diplomatic efforts to ease the US-Iran conflict.

Shiba Inu price extends gains as on-chain and derivatives metrics confirm bullish bias

Shiba Inu extends gains, trading above $0.0000042 after breaking above the descending trendline the previous day. Strengthening on-chain data and improving derivatives metrics support further gains for the meme coin. CryptoQuant’s exchange netflow chart below shows five consecutive days of net outflows since July 17.

Brent nears a critical crossroads as the global economy faces one too

Markets spent last Friday digesting a Reuters report that Iran has told the Houthis to stand ready to close Bab el-Mandeb if the US strikes Iranian power infrastructure — missiles and drones are reportedly already positioned near the strait, awaiting the order from IRGC officers in Yemen.

US Dollar mid-year outlook: Exceptional currency, exceptional risks?

The US Dollar enters the second half of 2026 in a markedly different position from a year ago. The King currency has recovered, reflecting persistent US inflation, changing expectations for Fed policy, geopolitical tensions and renewed demand for defensive assets.