AUDUSD consolidated highs this week and beneath key resistance. What subsequent technically?

The AUDUSD prolonged increased on Monday, Tuesday, and Wednesday, however every rally stalled inside a key swing space resistance between zero.6429 and zero.6442. This zone has constantly capped upside momentum all through the week. It was initially outlined going again to November and December of 2024. It wasn’t till this week that the worth returned to that degree.

On the draw back, the pair initially discovered help on Wednesday on the rising 200-hour shifting common. Nonetheless, later that day, the worth broke beneath the 200-hour MA and tried to carry beneath it—however in the end discovered renewed patrons close to a decrease swing space between zero.6321 and zero.6344. Each Wednesday’s and Thursday’s lows bounced from that zone, serving to to outline it as agency help.

In between these areas sit the 100- and 200-hour shifting averages, presently at zero.6394 and zero.6383 respectively. The pair is now buying and selling slightly below the 200-hour MA, tilting the near-term bias barely to the draw back.

Nonetheless, AUDUSD stays locked inside the broader vary that has contained worth motion since April 15, reflecting indecision and two-way flows. Within the video above, I stroll by way of the important thing technical drivers, spotlight the pivotal ranges, and description how merchants can construct methods round these boundaries.

This text was written by Emma Wang at www.ubaidahsan.com.



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