The Australian dollar pares gains near 0.7100 as the USD recovers, halting a rally from June highs.
The AUD/USD pair reversed course Tuesday, slipping from near 0.7100 as the US dollar recovered from a two-month low. The move followed a modest uptick in Asian trading, with bulls hesitant to push beyond resistance at 0.7100.
The pair had climbed to its highest level since June before retracing Monday. Traders now await a clear break below 0.7100 to confirm further downside momentum. The USD rebound follows recent weakness driven by shifting Fed rate cut expectations.
No immediate market reaction was reported, with focus on upcoming US economic data for further direction.