|

AUD/USD Price Analysis: Bears aligned below 0.6710

  • AUD/USD bears are in the market and price is offered below 0.6710. 
  • Bears seeking a break in support structure. 

AUD/USD has been under pressure over the course of the past few days, despite a strong Australian labour market report for March and the resultant boost in expectations that the RBA may hike rates again as soon as early May. The US Dollar has been firmer, however, as this is seeing to an offer in the pair as the following illustrates:

AUD/USD weekly chart

The weekly chart has the price coiling in the correction with the possibility of a downside continuation while stuck below 0.6790.

AUD/USD daily charts

The M-formation on the daily chart may act as the peak formation in the correction and lead to a move lower to break the structure on the downside. 

AUD/USD H4 chart

The four-hour chart´s 50% mean reversion level near 0.6710 aligns with the neckline of the pattern that could continue to act as resistance.

Author

Ross J Burland

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.

More from Ross J Burland
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

EUR/USD hangs close to 1.1650 ahead of US jobs data

EUR/USD stays better bid near 1.1650 in the European session on Tuesday. The prospect of a US interest rate cut on Wednesday keeps the US Dollar under check, underpinning the pair. In the meantime, traders look to the US ADP Employment Change four-week average and Jolts Job Openings reports for September and October. 

GBP/USD stays sub-1.3350, awaits US employment data

GBP/USD maintains its directionless price move and trades below 1.3350 in European hours on Tuesday. The pair capitalizes on renewed US Dollar weakness and a mildly optimistic mood ahead of US employment data.

Gold bounces back above $4,200, braces for US data

Gold reverses an intraday dip to the $4,170 area, or a one-week low, recovering ground above the $4,200 level in the European session on Tuesday.  Traders now look forward to Tuesday's US economic docket – featuring the release of the ADP Weekly Employment Change and JOLTS Job Openings. 

JOLTS Job Openings to provide fresh labor-market signals ahead of Fed decision

The Job Openings and Labor Turnover Survey (JOLTS) will be released on Tuesday by the US Bureau of Labor Statistics. Market participants anticipate that Job Openings reached 7.2 million in October.

Global economic outlook 2026: Financial system risk, trade, public debt

The global and European economies have been resilient in recent years even accounting for the modest global slowdown of 2025. But risks for the recovery are rising, underscoring a negative medium-run global macro and credit outlook.

Chainlink Price Forecast: LINK holds firm as reserves hit 16-month low

Chainlink (LINK) began the week on a stable footing, trading around $13.70 at the time of writing on Tuesday, holding above a key support zone. Growing ecosystem activity from declining exchange reserves to a wave of new integrations continues to strengthen the network’s fundamental outlook.