Anna 
The AUD/USD pair experienced a decline on Friday, continuing its descent during the early European session. Following the release of weaker-than-expected Chinese trade data, spot prices hit a fresh daily low. Despite this, they managed to remain above the psychological level of 0.6500 and saw a slight rebound in the last hour.
However, the prospect of prolonged higher interest rates by the Federal Reserve (Fed), driven by sticky US inflation, led to strong buying of the US Dollar (USD). Additionally, ongoing geopolitical tensions in the Middle East supported the safe-haven appeal of the Greenback, further weighing on the risk-sensitive Aussie.
From a technical standpoint, the AUD/USD pair has thus far defended the 0.6500 mark, which is now a key pivotal point. With oscillators on the daily chart showing negative traction, a convincing break below this level would signal bearish sentiment and potentially extend the recent sharp pullback from the 0.6645 area, a one-month high reached earlier this week.
Further downside movement below the 0.6480 area, corresponding to the monthly low, would reinforce the negative bias. This could prompt the AUD/USD pair to target the year-to-date trough around the 0.6445-0.6440 region, touched in February, before potentially reaching the 0.6400 mark and the next relevant support near the 0.6355-0.6350 zone.
On the upside, any recovery attempts are likely to face resistance near the 0.6545-0.6555 region, where the crucial 200-day Simple Moving Average (SMA) is located. Beyond this level, the 100-day SMA near the 0.6600 mark would serve as another hurdle. A break above these resistance levels could trigger short-covering and lift the AUD/USD pair towards the 0.6640-0.6645 area, the monthly swing high.
