AUD/USD Price Forecast: Breaks below 61.8% Fibo retracement at 0.7010
The Australian Dollar (AUD) underperforms its major currency peers during the European trading session on Tuesday. The antipodean is down almost 0.4% below 0.7000 against the US Dollar (USD).
The Australian Dollar (AUD) has experienced a decline in value against the US Dollar (USD) during European trading hours on Tuesday. The AUD has fallen almost 0.4% below 0.7000 against the USD. Analysts from MUFG have noted that the AUD has fallen below the 0.7000 level against the USD and is now facing a bearish near-term bias. The pair has slipped under the key 61.8% Fibonacci retracement at 0.7010, indicating a potential downside trend.
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