The AUD/USD pair is facing challenges beneath the 0.67 threshold, as successive rallies diminish in the context of global trade uncertainty. Until that barrier is surpassed, the potential for downside risk continues to be significant, particularly towards the 0.6550 level. AUD/USD appears to be in a state of uncertainty currently, as the 0.67 level serves as a resistance point, yet it is not decisively declining. That doesn’t come as a significant surprise, and I believe it’s likely just a matter of time until we observe some form of response to the 0.67 level, which I consider to be somewhat more significant.
Given the circumstances, it is essential to highlight that there is a slight divergence occurring in AUD/USD for certain indicators, which may warrant closer observation. However, I acknowledge that a distinguishing factor for this pair is its significant dependence on global trade, which, as we know, is currently facing considerable challenges. Given the circumstances, it appears that you are likely to witness a persistent decline in the AUD/USD rally if any indications of hesitation emerge.
For the majority of recent months, this has been true for AUD/USD. Although we have observed a notable upward movement lately, it is important to recognize that significant effort will be required to surpass the critical 0.67 level.
Given the current circumstances, it is prudent to approach AUD/USD with a degree of skepticism. A decline to the 0.6550 level appears quite probable for AUD/USD.