Analysts warn a break below 0.7120 could accelerate losses toward 0.7095 amid persistent bearish momentum.
The Australian dollar remains under pressure near 0.7120 against the USD, with downside momentum lingering after recent declines. Analysts highlight the risk of further losses if support at 0.7120 is breached, potentially targeting 0.7095.
The pair has struggled to regain upward traction, reflecting broader USD strength and weaker commodity prices. Resistance is seen at higher levels, but sellers retain control in the near term.
No immediate market reaction was specified, though traders may monitor the 0.7120 level closely for signs of a breakdown.