AUD/USD Faces Further Decline Amid Breakdown of Uptrend

The Australian dollar has experienced a third consecutive weekly decline after facing resistance at Fibonacci levels and a breakdown of its uptrend since June, according to analysis from StoneX Media's Senior Market Analyst Michael Boutros. The AUD/USD pair saw a drop in the wake of the Federal Reserve decision, which broke the June uptrend. The daily Relative Strength Index (RSI) momentum has reached its lowest level since July.

The video analysis maps out the Fibonacci confluence behind the reversal and the 200-day moving average. Upcoming events include the Australian employment report and trade talks on tariffs, rare earths, and AI, which may have an impact on the AUD/USD exchange rate.