The AUDUSD is down nearly 0.9% today, marking its largest decline of 2025 and the steepest drop since December 18, 2024. The initial move lower stalled at the 38.2% retracement of February’s trading range (0.6285), where buyers attempted to provide support. However, after a brief bounce, selling pressure intensified following President Trump’s confirmation that 25% tariffs on Mexico and Canada would take effect in March, alongside an additional 10% tariff on Chinese goods.
Technical Breakdown: Key Levels in Play
Given Australia’s economic ties to China, negative developments there often weigh on the AUD and NZD, leading to sharp declines in both currency pairs today. The continued downside move has now taken AUDUSD toward the 50% retracement of the February range at 0.62474. The day’s low so far stands at 0.62495, just two pips above this key technical level.
Price action has stalled near 0.62474, suggesting a temporary balance between buyers and sellers as the market assesses the next move. A break below this level could accelerate downside momentum, targeting:
- 0.62348 – Prior swing low from February 12 and February 10
- 0.62097 – 61.8% retracement of February’s range
Upside Levels to Watch
If buyers defend 0.62474, initial upside targets include:
- 0.62743 – A key intraday resistance level
- 0.6285 – The broken 38.2% retracement, which could now act as resistance
The AUDUSD remains under pressure, with further declines likely if risk-off sentiment persists and key support levels fail to hold.
AUDUSD technicals