EL7.AI
ForexUpdated•Originally published 10 June 2026•Updated 10 June 2026•
1 min read

AUD/USD Breaches 0.70 Support as Downside Pressure Mounts

Key Facts

1The AUD/USD pair faces a potential breakdown below the 0.70 level if US Core CPI data exceeds 3%.
2Global markets are currently weighed down by persistent inflation concerns and renewed US-Iran tensions.

In a technical shift reflecting US Dollar dominance, the AUD/USD pair has officially broken below the key psychological support level of 0.70. According to reports, this move comes as expectations for persistent Greenback strength intensify, prompting traders to target lower handles. Currency options data further indicate a surge in demand for downside protection, with market participants now eyeing the 0.69 level as the next immediate target.

This decline persists despite Australian Trade Balance data released on June 4, 2026, showing a surplus of 1.791 billion, nearly matching the 1.8 billion forecast per market data. In the broader context of commodity currencies, the New Zealand Dollar (NZD) is showing similar vulnerability against the USD as markets await upcoming commentary from Fed officials, including Barr and Goolsbee, to assess the potential for prolonged higher interest rates in the US.

The AUD/USD pair is currently trading below the 0.70 mark (close June 10, 2026), establishing this level as a new resistance point. Looking at the economic calendar, traders are focusing on the upcoming speech by Hauser from the Reserve Bank of Australia (RBA) on June 5, 2026, which may provide insight into the central bank's stance on currency depreciation and domestic monetary policy.