The AUD/USD chart shows a bearish momentum, indicating a downward trend in the market.
There is a potential for a bearish move as the price breaks below the first support level at 0.6795, which is a pullback support and aligns with the 23.60% Fibonacci Retracement. This could lead to a further decline towards the second support level at 0.6721, which also acts as a pullback support and aligns with the 38.20% Fibonacci Retracement.
On the upside, the first resistance level at 0.6883 represents a significant swing high resistance, where selling pressure may be encountered. Additionally, the second resistance level at 0.6916 is identified as a Fibonacci Extension level, adding to its importance as a potential barrier for upward movement.
