The AUD/USD currency pair retreated from the 38.2% Fibonacci resistance level after reaching the 0.6950 region on Friday, ending a two-day winning streak, according to FX Street.
Despite this pullback, the pair managed to hold above the key 0.6900 level during Monday’s Asian session, indicating some underlying support in the market.
This movement comes as Japanese traders remain cautious amid ongoing volatility in global FX markets, with the AUD/USD’s behavior closely watched for clues on risk sentiment and commodity-linked currencies.