AUD/USD Bears Maintain Grip Near 0.6950 as Price Action Remains Below 100-EMA

The AUD/USD pair continues to face selling pressure near the 0.6950 level, with bears maintaining a firm grip as price action remains below the 100-period Exponential Moving Average (EMA) on the 4-hour chart.

This technical setup suggests a persistent bearish bias in the near term, with sellers defending the key moving average as resistance.

The 100-EMA has acted as a dynamic resistance level, capping any upside attempts by the Australian dollar. The pair has repeatedly struggled to break above this moving average, which currently converges with the psychological resistance zone around 0.6950.

A sustained move above this area would be required to shift the short-term outlook from bearish to neutral or bullish. Until then, the path of least resistance remains to the downside.