Buyers failed to sustain momentum above 0.6915, keeping sellers in control of the short-term trend after a post-FOMC decline.
The AUDUSD pair attempted a rebound after hitting a low of 0.68816 but faced resistance near 0.6915, the underside of a broken channel trendline. Sellers stepped in at this level, pushing the pair back down to around 0.6905 after a brief rise to 0.6914.
The pair has been declining since the FOMC decision last Wednesday, breaking below its 100-hour and 200-hour moving averages at 0.7060 and 0.7046, respectively. Downside momentum accelerated on Monday, breaching a key trendline before a modest recovery.
For buyers to regain control, the pair must break and hold above 0.6915 and then surpass the 100-hour moving average at 0.6947. Until then, the short-term trend remains bearish.