AUD/USD Price Analysis: Sellers look to 78.6% Fibonacci retracement

AUD/USD fades bounce off two-month low, grinds lower.
Bearish MACD signals, sustained break of key support line favor sellers.
RSI conditions, key technical support challenge further downside.
Bulls remain away below monthly resistance line, 61.8% Fibonacci retracement adds to the upside filters.

Anil Panchal FXStreet

AUD/USD stays depressed around the September lows, sidelined near 0.7220 during early Wednesday.

In doing so, the Aussie pair aims for the 78.6% Fibonacci retracement (Fibo.) of November 2020 to February 2021 upside, around 0.7200 amid bearish MACD signals and a clear downside break of the three-month-old ascending trend line.

It should be noted, however, that nearly oversold RSI conditions may challenge the AUD/USD sellers past 0.7200, a break of which highlights October’s low and a yearly support line, respectively near 0.7170 and 0.7140, for the pair nears.

In a case where the quote remains bearish past 0.7140, the 2021 bottom of 0.7105 will be in focus.

Alternatively, a corrective pullback should not only offer a daily closing beyond the previous support line from August, close to 0.7260, but also successfully cross a downward sloping resistance line from November 02, around 0.7295, to convince the AUD/USD bull’s return.

Following that, the 61.8% Fibo. level near 0.7360 should gain the market’s attention.

AUD/USD: Daily chart

Trend: Further weakness expected

Additional important levels

Overview
Today last price	0.7221
Today Daily Change	-0.0008
Today Daily Change %	-0.11%
Today daily open	0.7229

Trends
Daily SMA20	0.737
Daily SMA50	0.7349
Daily SMA100	0.7352
Daily SMA200	0.7528

Levels
Previous Daily High	0.7238
Previous Daily Low	0.7206
Previous Weekly High	0.7371
Previous Weekly Low	0.7227
Previous Monthly High	0.7557
Previous Monthly Low	0.7191
Daily Fibonacci 38.2%	0.7226
Daily Fibonacci 61.8%	0.7219
Daily Pivot Point S1	0.7211
Daily Pivot Point S2	0.7193
Daily Pivot Point S3	0.7179
Daily Pivot Point R1	0.7242
Daily Pivot Point R2	0.7256
Daily Pivot Point R3	0.7274

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

GBP/USD slides below 1.3250 after failing to break through 23.6% Fibo

The GBP/USD pair meets with a fresh supply during the Asian session on Wednesday and moves away from a nearly two-week high around the 1.3275 region, touched the previous day. Spot prices currently trade around the 1.3235 zone, down 0.20% for the day, as traders look to speeches from Bank of England Governor Andrew Bailey and Federal Reserve Chair Kevin Warsh for a fresh impetus.

EUR/USD declines to near 1.1400 as German inflation undercuts ECB hike bets

The EUR/USD pair loses momentum to near 1.1410 during the early Asian trading hours on Wednesday, pressured by receding bets for aggressive tightening by the European Central Bank (ECB). Traders will take more cues from the preliminary reading of the Harmonized Index of Consumer Prices from the Eurozone and US Manufacturing Purchasing Managers Index report, which are due later in the day.

Gold hangs near YTD low, below $4,000 as Iran risks and Fed hike bets bolster USD

Gold attracts fresh sellers following the previous day's good two-way price swings, and slides back below the $4,000 psychological mark during the Asian session. This marks the third straight day of a negative move and keeps the precious metal well within striking distance of its lowest level since November 2025, touched on Tuesday.

Cardano consolidation near support as bearish momentum eases

Cardano (ADA) trades around $0.146 on Wednesday, stabilizing after a sharp correction as selling pressure eases. Weakening derivatives metrics indicate traders remain cautious, while fading bearish momentum indicators suggest a potential recovery for ADA. Cardano’s derivatives metrics support a negative outlook.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The European Central Bank Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Federal Reserve, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.

Kevin Warsh isn't expected to say much in Sintra: That's exactly why markets will listen

Financial markets could find an important catalyst in the enchanting, fairytale-like landscape of Sintra this week. The ECB Forum will, as it does every year, gather the crème de la crème of central banks. The new boss at the Fed, who has clearly said that the Fed should stop explaining everything, will need to talk – and traders should listen.