Why is the AUD/USD pair falling today?

AUD/USD is trading down 0.62% at 0.70682 during the London session. Newsflow from publishers like InvestingCube and FX Street frames the move below the 0.7100 level around themes of a firm US Dollar, weak PMI data, and a hawkish Fed.

How could tomorrow's Australian employment data impact the exchange rate?

Tomorrow at 01:30 UTC, Australia releases high-impact employment data. The Employment Change is estimated at 20, and the Unemployment Rate is estimated at 4.5.

What key support levels should AUD/USD traders watch next?

The nearest support level is S3 at 0.70606. Below that, the next round number of 0.705 acts as the target in the bearish scenario.

Why Is AUD/USD Moving Today? Price Slides Below 0.7100 in London

Market mover Neutral bias Sep 23, 2026, 11:33 UTC

Oliver HayesMarket Risk Analyst · ForexR analyst

AUD/USD trades down 0.62% in the London session, breaking below the 0.7100 handle. Conflicting timeframes leave the broader technical bias neutral as the market prepares for US PMI data.

Defocused red and amber city lights at night

Price0.70682

Day change-0.62%

Day range0.70672 - 0.71174

ATR (14)0.00422

Resistance	Level	Support	Level
R3	0.71614	S1	0.70942
R2	0.71431	S2	0.70759
R1	0.71278	S3	0.70606
Previous day high	0.71249	Previous day low	0.70913
20-day high	0.72369	20-day low	0.70740
Daily pivot 0.71095. Data as of 2026-09-23 11:30 UTC; price from a live feed, levels computed from the previous completed daily bar.

AUD/USD 1-hour chart with the daily pivot at 0.71095, R1 0.71278, R2 0.71431, S1 0.70942, S2 0.70759 and the bullish and bearish scenario paths — AUD/USD, 1-hour candles with the daily pivot levels, the range between nearest support and resistance, and both scenario paths. Data as of 2026-09-23 11:30 UTC.

Aussie Dollar Slides Below Key Psychological Handle

As the London session trades, the live AUD/USD rate is at 0.70682, down 0.62% on the day. The intraday range has stretched to 50.2 pips, reaching 119% of the 14-day ATR. Trend evidence conflicts across timeframes, with a mixed state on the daily chart but downward momentum on the H1 and H4 timeframes, leaving the technical bias neutral. The nearest resistance sits at the 5-day low of 0.7074, while the nearest support is positioned at S3 at 0.70606.

Global PMIs and Fed Commentary Drive Intraday Momentum

In the newsflow, coverage from publishers like InvestingCube and FX Street frames the pair's slide below 0.7100 around themes of a firm US Dollar, weak PMI data, and a hawkish Fed. News sentiment reflects this tone with a 75% bearish share and the media mood dropping to 42 out of 100. Context from the bond market shows US Treasury yields at the daily close of September 22 placed the 2-year yield at 4.71%, down 5 basis points, and the 10-year yield unchanged at 4.96%. In the futures market, large speculators positioned for a move lower; as of the week to September 15, non-commercial traders added to their net short AUD/USD position.

Anticipation Builds for US Data and Australia's Jobs Report

The calendar features high-impact US data scheduled for today at 13:45 UTC, including the S&P Global Services PMI, estimated at 56, and the S&P Global Manufacturing PMI, estimated at 53.5. A speech from the Fed's Barr follows today at 14:05 UTC. Tomorrow at 01:30 UTC, focus shifts to Australia's employment data, with Employment Change estimated at 20 and the Unemployment Rate expected at 4.5.

Technical Outlook: Levels to Watch After the Support Breakdown

The 5-day high sits at 0.71393, and the 5-day low is at 0.7074. The wider 20-day high is located at 0.72369, with the 20-day low also marked at 0.7074.

In the bearish scenario, a drop below the S3 trigger at 0.70606 opens the way to the next round number at 0.705 as the target. A recovery back above the daily pivot point at 0.71095 would invalidate this view.

For the bullish scenario, buyers would need to clear the R1 trigger at 0.71278 to establish a path toward the R2 target at 0.71431. This setup becomes invalid if price falls back below the daily pivot at 0.71095.