AUD/USD (AUDUSD=X) Forecast

AUD/USD has broken below key support at 0.7088 (Sept 16 low) and is trading near 0.7037, representing a 2.3% decline from the recent peak of 0.7221 (Sept 8-9). The currency pair shows a clear downtrend over the past 10 trading days with lower highs and lower lows. The sharp selloff from 0.7125 to 0.7034 on Sept 23 suggests weakening momentum in the Australian Dollar. Technical indicators suggest further downside pressure toward the 0.70 psychological level. Lack of volume data limits confirmation, but the directional trend is decisively bearish. Risk remains to the upside if RBA policy or commodity prices shift favorably.