AUDUSD technicals
The AUDUSD continues to coil between key technical levels, as traders await a decisive breakout. For most of the day, the pair has traded in a tight range between the 100-hour moving average at 0.6296 and the 200-hour MA at 0.6316, reflecting a broader indecision in the market. Price action has shifted above and below these levels throughout the week, a signal of near-term uncertainty.
On the downside, today’s U.S. session low stalled at the rising 100-hour MA, which is acting as near-term support. A break below 0.6296 would shift the short-term bias back in favor of the sellers, potentially opening the door toward the next support zone near 0.6268 and then 0.6254.
On the upside, a move above the 200-hour MA at 0.6316 would target the 100-day MA at 0.63318. A firm break above this level would represent a stronger bullish shift, with room to run toward the March highs and beyond.
Until then, the battle between buyers and sellers continues to center around the converging moving averages, and the next shove will likely determine the near-term directional bias.
