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AUD/USD Stumbles Again—A Bigger Breakdown Could Be Near

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Aayush Jindal

Key Highlights

  • AUD/USD started a fresh decline below 0.7120 and 0.7080.
  • A bearish trend line is forming with resistance at 0.7065 on the 4-hour chart.
  • Bitcoin started a consolidation phase above $60,000.
  • Gold extended losses below $4,200 and tested $4,050.

AUD/USD Technical Analysis

The Aussie Dollar failed to stay above 0.7120 and declined against the US Dollar. AUD/USD traded below 0.7080 to enter a bearish zone.

Looking at the 4-hour chart, the pair settled below the 0.7050 pivot level, the 100 simple moving average (red, 4-hour), and the 200 simple moving average (green, 4-hour). The pair even spiked below 0.7000. A low was formed at 0.6987, and the pair is now consolidating losses.

On the upside, an immediate resistance could be 0.7035. The next major resistance might be 0.7065. There is also a bearish trend line forming with resistance at 0.7065.

A close above 0.7065 could open doors for gains. The main hurdle for the bulls could be 0.7120 and the 100 simple moving average (red, 4-hour). If there is a close above 0.7120, the pair could rise toward the 0.7165 level.

Immediate support could be 0.6980. The first major support might be 0.6960. A close below 0.6960 could open the doors for a larger decline toward 0.6920. Any more losses might set the pace for a test of 0.6880.

Looking at Gold, there was a sharp decline below $4,250, and the bears might even aim for a move below $4,000.

Upcoming Key Economic Events:

  • US Initial Jobless Claims - Forecast 219K, versus 225K previous.
  • US Producer Price Index for May 2026 (MoM) – Forecast +0.7%, versus +1.4% previous.
  • US Producer Price Index for May 2026 (YoY) – Forecast +6.4%, versus +6.0% previous.
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