AUD/USD Price Forecast: Hovers around 0.6700, nine-day EMA

The AUD/USD pair is recovering its recent losses registered in the previous session, trading around 0.6700 during the European hours on Wednesday. The daily chart’s technical analysis indicated a weakening bullish bias as the pair is positioned slightly below the ascending channel pattern.

The 14-day Relative Strength Index (RSI) at 56.32 is neutral and firming, confirming improving momentum. As long as RSI holds above 50, the pair could maintain the uptrend. Additionally, the AUD/USD pair holds above the rising 50-day Exponential Moving Average (EMA). The nine-day EMA is trending higher, keeping the near-term bias positive.

On the upside, a rebound within the ascending channel would improve the bullish bias and help the AUD/USD pair to target 0.6766, its highest level since October 2024. A decisive break could open a continuation higher toward the upper boundary of the ascending channel near 0.6880.

The immediate support lies at the nine-day Exponential Moving Average (EMA) of 0.6698. A close below the short-term average would undermine the tone and expose the mentioned support at the 50-day EMA at 0.6636. Further losses would open the downside toward 0.6414, the lowest since June 2025.

(The technical analysis of this story was written with the help of an AI tool.)