AUD/USD remains weaker for the second successive day, trading around 0.7160 during the Asian hours on Wednesday. The technical analysis of the daily chart indicates that the pair moves within the rectangle pattern, suggesting a consolidation as neither the bulls nor the bears have enough momentum to take control of the market.
The AUD/USD pair holds above the 50-day Exponential Moving Average (EMA), hinting at a mildly constructive near-term tone, but it is trading just under the nine-day EMA, which acts as immediate dynamic resistance.
The 14-day Relative Strength Index (RSI) hovers close to the 50 line, signalling neutral momentum and suggesting that a clearer directional cue may emerge only on a break away from this tight moving-average band.
The AUD/USD pair is currently testing an immediate barrier at its nine-day Exponential Moving Average (EMA) of 0.7164. A successful breakout above this short-term average is expected to boost upward price momentum. This potential strength could support the pair as it climbs toward the upper boundary of its current rectangle pattern around 0.7270, with the next major target being 0.7277, the highest level seen since June 2022, recorded on May 6.
On the downside, the AUD/USD pair may target the 50-day EMA at 0.7120. A break below this support level would likely see the pair test the lower boundary of the rectangle formation near 0.7070. If selling pressure intensifies and forces a breakout below this consolidation zone, it could drag the pair down toward the 0.6833 region, marking a return to the four-month low, recorded on March 30.
Australian Dollar Price Today
The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the New Zealand Dollar.
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