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AUD/USD struggles to escape bearish pressure, with sellers firmly in control despite minor rallies.

AUDUSD was down on Tuesday after testing the high level of 0.6609 in the last trading session as The Australian dollar weakened below $0.66 on Tuesday, hitting its lowest levels since mid-August, weighed down by a strong greenback and Treasury yields amid signs of a resilient US economy and bets on a second term for former President Donald Trump. Meanwhile, the aussie strengthened against the yen after Japan’s ruling coalition lost its parliamentary majority, further complicating the Bank of Japan’s rate hike plans.