AUDUSD retreats after false breakout above key resistance ...Middle East

The inability to hold above that key resistance level suggests buyers lacked the momentum to drive the next leg higher and has helped lead to more selling today from a technical perspective. .

There is also a swing area between 0.6429 and 0.6442 will be key for determining short-term direction. Holding this zone could offer buyers a base for another attempt higher. A break below, however, would shift the bias more clearly in favor of sellers.

Resistance: 0.6504 (failed breakout zone), 0.6514 (new high for 2025)

Support: 0.6460 (200-day MA), 0.6452 (100-hour MA), 0.6428 (200-hour MA), 0.6429–0.6442 (swing area)

This article was written by Greg Michalowski at www.forexlive.com.

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