AUDUSD Forecast: Battling to retain the 0.6600 threshold

Valeria Bednarik FXStreet

AUD/USD Current Price: 0.6601

Chinese news reporting a spike in coronavirus contagions and new deaths spurred risk aversion.
RBA’s Governor Philip Lowe will speak on price stability early on Tuesday.
AUD/USD has turned bearish in the near term, could approach the 0.6500 region.

The AUD/USD pair pierced the 0.6600 level on Monday, settling around it mid-American afternoon. The US Dollar appreciated on demand for safety and as global stocks edged lower. In the absence of relevant macroeconomic releases, the focus was on geopolitical developments. China’s National Health Commission reported two deaths of Covid-19 patients in Beijing, while the country reported over 26,000 new contagions on Sunday. The news spurred concerns about a potential global economic setback amid China’s strict covid policy.

Australia did not publish relevant macroeconomic data, while on Tuesday, the focus will be on a speech for Reserve Bank of Australia Governor Philip Lowe, due to deliver a speech on "Price Stability, the Supply Side, and Prosperity" at the Annual Committee for Economic Development of Australia Dinner.

AUDUSD short-term technical outlook

From a technical point of view, the AUD/USD pair is at risk of extending its slide. The daily chart shows that it fell further below its 100 SMA, while a still bullish 20 SMA provides dynamic support at 0.6525. Technical indicators, in the meantime, extended their declines withIN negative levels, maintaining their bearish slopes.

The risk skews to the downside in the near term, and according to the 4-hour chart. The 20 SMA gains bearish traction above the current level, while technical indicators have lost their bearish strength but remain within negative levels. The longer moving averages, in the meantime, remain below the current level, partially losing their bullish slopes.

Support levels: 0.6585 0.6550 0.6520

Resistance levels: 0.6630 0.6670 0.6710

View Live Chart for the AUDUSD

Premium

You have reached your limit of 3 free articles for this month.

Start your subscription and get access to all our original articles.

Subscribe to Premium Sign In

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.

EUR/USD extends its optimism past 1.1900

EUR/USD retains a firm underlying bid, surpassing the 1.1900 mark as the NA session draws to a close on Monday. The pair’s persistent uptrend comes as the US Dollar remains on the defensive, with traders staying cautious ahead of upcoming US NFP prints and CPI data.

GBP/USD tilts bullish as markets barrel toward mid-week NFP print

GBP/USD is holding a broader bullish structure on the daily chart, with price trading well above the 50 Exponential Moving Average at 1.3507 and the 200 EMA at 1.3310, confirming the intermediate uptrend that has been in place since the November 2025 low near 1.2300.

Gold pushes back above $5,000

The daily chart shows spot Gold in a parabolic uptrend that accelerated sharply from the $4,600 area in late January, printing a record high at $5,598.25 before a violent reversal erased nearly $1,000 in value during the final days of the month.

Litecoin eyes $50 as heavy losses weigh on investors

Following a strong downtrend across the crypto market over the past week, Litecoin holders are under immense pressure. The Bitcoin fork has trimmed about $1.81 billion from its market capitalization since the beginning of the year, sending it below the top 20 cryptos by market cap.

Japanese PM Takaichi nabs unprecedented victory – US data eyed this week

I do not think I would be exaggerating to say that Japanese Prime Minister Sanae Takaichi’s snap general election gamble paid off over the weekend – and then some. This secured the Liberal Democratic Party (LDP) an unprecedented mandate just three months into her tenure.

Ripple exposed to volatility amid low retail interest, modest fund inflows

Ripple (XRP) is extending its intraday decline to around $1.40 at the time of writing on Monday amid growing pressure from the retail market and risk-off sentiment that continues to keep investors on the sidelines.