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Forex

AUD/USD Tumbles on US Dollar Strength Amid Geopolitical Concerns

Guavy AI Editorial Team
Instruments
USD AUD
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The AUD/USD pair is trading near the mid-0.7100 area after touching a one-and-a-half-week low around 0.7140, down about 0.25% on the day.

This decline comes as renewed strength in the US Dollar supports demand for safe-haven assets, driven by geopolitical concerns and expectations of higher US interest rates.

AUD/USD's technical signals point to a bearish bias, with focus on the 23.6% Fibonacci level at 0.7150 and potential downside targets at 0.7095 and 0.7051.

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