The AUDUSD extended higher on Monday, Tuesday, and Wednesday, but each rally stalled within a key swing area resistance between 0.6429 and 0.6442. This zone has consistently capped upside momentum throughout the week. It was initially defined going back to November and December of 2024. It wasn't until this week that the price returned to that level.
On the downside, the pair initially found support on Wednesday at the rising 200-hour moving average. However, later that day, the price broke below the 200-hour MA and attempted to hold under it—but ultimately found renewed buyers near a lower swing area between 0.6321 and 0.6344. Both Wednesday’s and Thursday’s lows bounced from that zone, helping to define it as firm support.
In between those areas sit the 100- and 200-hour moving averages, currently at 0.6394 and 0.6383 respectively. The pair is now trading just below the 200-hour MA, tilting the near-term bias slightly to the downside.
Still, AUDUSD remains locked within the broader range that has contained price action since April 15, reflecting indecision and two-way flows. In the video above, I walk through the key technical drivers, highlight the pivotal levels, and outline how traders can build strategies around these boundaries.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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