AUD/USD Price Analysis: 61.8% Fibo eyed as potential resistance

AUD/USD bears are lurking as the price stalls in its correction.
All eyes on the US dollar's trajectory as AUD/USD 61.8% Fibo is eyed.

Ross J Burland FXStreet

The price of AUD/USD has moved in on a resistance area as measure by the Fibonacci retracements aligning with prior support.

The following illustrates the market structure from a weekly and daily perspective.

Weekly chart

The price is attempting to correct within a weekly bearish trend and it has done so with vigor so far this week.

However, as we draw closer to Friday's Jackson Hole and Aussie Retail Sales, there could be some consolidation on the cards.

Daily chart

On the daily chart, the price is moving on on old support at 0.7289 and a near confluence of the 61.8% Fibonacci retracement level.

The correction could start to decelerate at this juncture.

DXY analysis

Should the greenback find traction again, then the downside potential into the weekly structure will be on the cards for AUD/USD.

More on the US dollar's trajectory, here:

US dollar at make or break point, countdown to taper

Author

Ross J Burland

FXStreet

Ross J Burland, born in England, UK, is a sportsman at heart. He played Rugby and Judo for his county, Kent and the South East of England Rugby team.

EUR/USD strengthens above 1.1800 ahead of German IFO data

EUR/USD gains ground for the second successive session, holding well above 1.1800 in the European session on Monday. The US Dollar remains heavy as a 'Sell America' theme returns to the fore amid uncertainty fuelled by US President Trump's latest tariff announcement. German IFO Survey could offer fresh trading impetus.

GBP/USD rises toward 1.3550 as tariff confusion slams USD

GBP/USD extends the advance toward 1.3550 on Monday. The US Dollar faces intense selling pressure as tariff uncertainty lingers following US President Trump's latest announcement. Traders will take more cues from the broader market sentiment and central bank talks.

Gold clings to gains near monthly peak amid flight to safety and weak USD

Gold sticks to its bullish bias near the monthly peak heading into the European session and looks to build on last week's breakout through the $5,100 mark amid a supportive fundamental backdrop. Renewed trade-war fears, along with rising geopolitical tensions in the Middle East, turn out to be key factors that underpin the safe-haven precious metal and validate the constructive outlook.

Cardano braces for impact as US tariff storm brews

Cardano is down 4% at press time on Monday, entering its third consecutive day of decline. Bearish bias in Cardano’s derivatives market positional buildup aligns with rising pressure on the broader cryptocurrencymarket amid US President Donald Trump's reassessment of global tariffs and domestic conflict with the US Supreme Court.

Supreme Court nixes tariffs, Trump teases 15% global tariff

On February 20th, the Supreme Court ruled that Trump’s global tariffs under IEEPA authority were unconstitutional, effectively nullifying the framework. However, the relief was short-lived. Within hours, Trump floated a 15% blanket tariff under an alternative legal authority.

Top Crypto Losers: Zcash, Pump.fun, and LayerZero extended losses as Bitcoin loses $65,000

The cryptocurrency market starts the week in panic mode, with altcoins Zcash, Pump.fun, and LayerZero. Bitcoin falls below $65,000 as the US President Donald Trump regroups amid renewed trade policy risks.