AUDUSD – The Downtrend Remains DominantOn the 4H chart, AUDUSD continues to move within a descending channel that has persisted since early October. Each time price touches the upper trendline, it gets sharply rejected — showing that sellers remain firmly in control.
Currently, the pair is hovering around the 0.6480 zone, just below both the EMA34 and EMA89, which are sloping downward — confirming that the medium-term downtrend is still intact.
From a fundamental perspective, weaker-than-expected Australian employment data and growing expectations that the RBA might cut rates sooner are weighing on the Aussie. Meanwhile, the U.S. dollar is supported by rising Treasury yields — further strengthening the bearish bias.
Short-term scenario: price may rebound slightly toward the 0.6500 area (testing EMA resistance + upper trendline) before continuing its decline toward the 0.6420 target zone — which also aligns with strong technical support and the bottom of the descending channel.
