AUD/USD Price Analysis: Bears eye break below 0.6650

AUD/USD bears have engaged once again.
The bearish pennant is still in play for the days ahead.

Ross J Burland FXStreet

AUD/USD bearish pennant is a compelling feature on the daily time frames and failures below 0.6720 keep the bearish bias in place as the following will illustrate.

AUD/USD daily chart

The price has taken on the premature´s bearish bets and hit stops near 0.6770/90. This leaves prospects of a downside continuation for the days ahead. The bears need to get below 0.6650 to open the doors to below 0.6600 and 0.6500.

AUD/USD H1 chart

AUD/USD has pulled back into the neckline of the M-formation in a 50% mean reversion of the hourly impulse. This area may act as resistance and lead to an eventual break of the trendline support and then 0.6650.

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 retreats toward 1.1500 despite ECB rate hike

EUR/USD stays under bearish pressure and declines toward 1.1500 in the American session on Thursday. Although the European Central Bank raised key rates by 25 bps after the June meeting, the pair struggles to hold its ground as US President Donald Trump's renewed threat to hit Iran weighs on sentiment and supports the US Dollar.

GBP/USD extends slide below 1.3350 on renewed USD demand

GBP/USD is falling below the 1.3350 level in the American session on Thursday. Increased hawkish Fed bets and looming Mideast geopolitical risks sponsor the latest leg up in the US Dollar, particularly after the Producer Price Index jumped to 6.5% YoY in May.

Gold challenges fresh 2025 lows below $4,100

Gold struggles to stage a rebound and trades below $4,100 in the American session on Thursday. Mixed producer inflation data from the US and a further escalation of tensions in the Middle East don't allow the precious metal to shake off the bearish pressure.

Crypto Today: Bitcoin, Ethereum, XRP rebound broadens despite continued US-Iran strikes

Bitcoin steadies its recovery on Thursday, edging higher toward $63,000 despite incessant capital outflows. Meanwhile, altcoins, including Ethereum and Ripple, exhibit subtle rebound signs, trading above $1,650 and $1.12, respectively.

Indonesia surprise rate hike may not be enough to save the Rupiah

The surprise rate hike from Bank Indonesia, aimed at protecting the Indonesian Rupiah from sliding further, seems to have worked for now. The rate increase definitely helps, but there’s more work to do if Jakarta wants to ease investors’ concerns for good.

4.2% headline, 0.2% core: Why the Fed's next hike may be targeting the wrong problem

May's CPI put headline inflation at 4.2% on the year, up from 3.8% in April and the hottest reading since April 2023, while core prices rose just 0.2% on the month, undershooting the 0.3% consensus and halving April's pace.