AUD/USD Weekly Breakdown: Bearish Surge Amid Risk Aversion and Central Bank Divergence
AUD/USD closed last week lower after breaking key support near 0.6715, signaling a bearish near-term outlook. Immediate support lies at 0.6574, with risk of further drops toward 0.6461 if this level breaks. Resistance now clusters around 0.6713-0.6717 and then 0.6870. Weak Australian economic data and a hawkish Fed continue to pressure the AUD, while global risk aversion favors the USD. Traders should monitor upcoming data and central bank cues for directional clarity.
