AUD/USD has been on a bearish downtrend, and it seems like it will continue. The main reason is the weakness of the Australian economy due to Covid-19 lockdowns. The technical analysis confirms the trend with a crossover between the 50-day and the 200-day SMA around 0.7589. Since the last few weeks, the AUD/USD analysis has worried investors that have seen how the price is on a bearish trend and struggling to recover from the lower levels. On Friday, the price fell to 0.7288, which was a new low for the year. –Are you interested to learn more about automated trading? Check our detailed guide- This Monday, the Australian Dollar had one of the largest falls of all the major currencies for the day. The most relevant reasons for the downtrend are the consequences of the COVID-19 pandemic, putting Australia’s economy in problems. The long lockdowns have hurt the economy, and the price of the AUD/USD pair has found stiff resistance at the 0.75 level. This problem is far from over, now with the presence of the Delta Variant in the country, one can see a lockdown extension on the Australian horizon. This, without taking into account the repercussions of the weekend’s manifestations that may have been a spread event that could hurt the Australian economy even more. Get FREE Forex Signals Now! With all this, investors have looked for a safe currency to put their investments in, and in the process, they have strengthened the US Dollar in the past few days. Today, the Fed’s monetary policy will influence the USD dynamics and provide a new impulse to the AUD/USD pair. There is always a chance of a little bounce of the AUD, but right now, all of the analyses predict the downtrend will continue. Additionally, last week the YTD bounced, and the pair AUD/USD couldn’t capitalize. This also suggests that the near-term downtrend may still be going for a while. AUD/USD technical analysis: Bears to give tough time The technical analysis confirms the expected trend. Traders expect the Australian Dollar to keep its bearish trend against the US Dollar. The door to a broader bearish outlook may be opened due to a crossover between the 50-day SMA and the 200-day SMA. –Are you interested to learn more about forex signals? Check our detailed guide- The recent behavior makes us think that this is a resistance level around 0.75, a round number with a psychological component. The expected range of the pair is 0.7324 – 0.7413. AUD/USD daily chart analysis Looking to trade forex now? Invest at eToro! Trade Forex Now! 67% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Saqib Iqbal Saqib Iqbal Saqib Iqbal is a market analyst, prop fund trader and mentor, serving the industry with his analysis and educational content since 2011. The author has great exposure to different financial markets and institutions. He's well-known for his day trading reviews and multiple timeframe analysis. View All Post By Saqib Iqbal AUD/USD Daily Outlooks share Read Next VeChain Price Forecast: Can VET Violate The $0.090 Resistance Level? Nancy Lubale 9 months AUD/USD has been on a bearish downtrend, and it seems like it will continue. The main reason is the weakness of the Australian economy due to Covid-19 lockdowns. The technical analysis confirms the trend with a crossover between the 50-day and the 200-day SMA around 0.7589. Since the last few weeks, the AUD/USD analysis has worried investors that have seen how the price is on a bearish trend and struggling to recover from the lower levels. On Friday, the price fell to 0.7288, which was a new low for the year. -Are you interested to learn more about automated trading?… Top Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.