The AUD/USD currency pair experienced a decline following a short-lived increase to approximately 0.6965 during the Asian trading session on Thursday. This movement came amid some dip-buying activity in the US Dollar, which pressured the pair lower, according to FX Street.
After reaching the 0.6965 level, the pair slipped back toward the 0.6950 area, hovering near the 100-period exponential moving average (EMA) on the four-hour chart. The technical support at the 100-EMA remains a key level for traders monitoring the pair’s next moves.
For Japanese market participants, fluctuations in AUD/USD can impact cross-asset strategies, especially given the sensitivity of the Australian Dollar to commodity prices and global risk sentiment, factors closely watched alongside USD strength.