The AUD/USD currency pair slipped below the 0.7100 level, marking a one-week low as selling pressure intensified during the early European session on Wednesday. This decline reflects a bearish outlook in the market ahead of key Australian jobs data scheduled for Thursday.
According to FX Street citing United Overseas Bank (UOB), the pair’s price action remains range-bound around 0.7115, with intraday expectations between 0.7095 and 0.7125. UOB analysts Quek Ser Leang and Lee Sue Ann maintain a bearish stance as long as the pair stays below 0.7140.
For Japanese investors, the AUD/USD’s weakness may influence broader Asia-Pacific currency movements and risk sentiment, especially as markets await critical employment figures that could sway central bank policies.