The Australian dollar falls to a session low, breaking technical levels as US equities decline and risk appetite weakens.
The AUDUSD pair declined 1.05% to 0.6926, marking its lowest level of the session and testing a critical channel trendline support. Sellers overcame resistance at the 61.8% retracement level of 0.7002 and failed to hold above the 0.6962-0.6978 swing area, accelerating the downside momentum.
Earlier in the session, the pair struggled to defend support zones dating back to early April, with buyers unable to reverse the decline after an intraday low near 0.6942. A break below the current 0.6926 level could signal further downside, with limited technical support ahead.
The move coincides with broader risk-off sentiment, driven by US equities under pressure. The NASDAQ fell 1.95% and the S&P 500 dropped 1.28%, weighing on risk-sensitive currencies like the AUD and NZD.