The AUDUSD rally ran into resistance near the 2025 extreme area around 0.65135 earlier today and quickly reversed lower, signaling fading bullish momentum. The pullback has now brought the pair down to test a key confluence of moving average support, most notably the 200-day MA at 0.64578.
This level is critical. A successful defense here would provide buyers with a potential springboard to reattempt upside moves. However, failure to hold this support increases downside risk. Below the 200-day MA - but with work to do. The 200-hour MA at 0.6440 and the dual support of the 100-bar MA on the 4-hour chart, and 100-hour MA are near the same level at 0.6418. A break below these levels would likely shift the bias back in favor of sellers and accelerate downside pressure.
Key technical levels:
Immediate support: 200-day MA at 0.64578
Secondary support: 200-hour MA at 0.6440; 100-bar MA on the 4-hour chart/100-hour MA at 0.6418
Resistance: 0.65135 (2025 extreme high area)
Bias: Neutral near term; bullish above 0.64578, bearish below 0.6418
Buyers have a chance to hold the line, but if momentum continues to falter, bears may regain control. Traders should watch closely for confirmation on either side of this support cluster.
This article was written by Greg Michalowski at www.forexlive.com. Read More Details
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