Risk aversion has affected high-beta currencies such as the Australian dollar. Global central banks, which raised interest rates and looked ahead to further hikes, raised recession fears, dampening investor sentiment. AUD/USD Price Analysis: Decline after falling from weekly highs to 50-day EMA. The Australian dollar (AUD) fell to , against the US dollar (USD) on weak market sentiment as a slowdown in economic growth looms following central bank easing, which includes hikes by the US Federal Reserve (Fed), the Bank of England (BoE) and the European Central Bank (ECB). interest rates by 50 basis points. In addition, policymakers have emphasized the need to do whatever it takes to curb inflation, which is keeping investors worried. Consequently, AUD/USD is trading at 0.6690, below its opening price. AUD/USD PRICE ANALYSIS: TECHNICAL OUTLOOK After falling from around 0.6870 to 0.6670 on Thursday, AUD/USD is poised for a deeper correction. Market sentiment and technicals, where buyers failed to decisively clear the 200-day exponential moving average (EMA) at 0.6831, accelerated the Australian dollar’s decline at current rates. Heading south, AUD/USD set the 20-day EMA at 0672 , ending Friday’s rally as AUD/USD ended the week down 1.60%. Additionally, a break below December 15 at 0.6676 could deepen AUD/USD’s decline to the 50-day EMA at 0.6658 and accelerate the downtrend towards the 0.6600 mark. Oscillators such as the Relative Strength Index (RSI) have crossed into bearish territory, while the Rate of Change (RoC) is falling, reinforcing a deeper correction. In an alternative scenario, if AUD/USD reaches 0.6700, the 200-day EMA at 0.6831 will be tested. A breach of the latter will reveal the September 13 high of 0.6916, followed by the psychological level of 0.7000.