The AUD/USD pair started the day under pressure, slipping lower in early trading before finding solid buying interest at key support levels. Despite the initial decline, the pair has since rebounded, heading back toward an important resistance zone that traders are closely watching
Market Overview
During the Asian session, the Australian dollar weakened against the U.S. dollar, falling below the 0.6500 mark as the greenback gained strength on higher U.S. Treasury yields. However, buyers stepped in around the 0.6470 level — a zone that has provided consistent support in recent sessions — helping the pair recover part of its losses
The rebound took AUD/USD back toward 0.6520–0.6530, aligning with short-term resistance and the 50-hour moving average. This area is critical, as a breakout above it could shift momentum in favor of the bulls
Technical Indicators
Relative Strength Index (RSI): The RSI has bounced from oversold territory, signaling that bearish momentum may be losing steam
Moving Averages: The pair is trading just below its 50-hour MA, with the 200-hour MA sitting higher near 0.6570, creating a double-layer resistance zone
Price Action: A strong daily close above 0.6550 would confirm a short-term bullish reversal, while rejection could lead to another retest of the 0.6470 support
Key Levels to Watch
- Immediate Resistance: 0.6520, 0.6550, 0.6570
- Immediate Support: 0.6470, 0.6450, 0.6420
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Outlook
The broader trend for AUD/USD remains cautious as traders weigh global risk sentiment, commodity market trends, and central bank signals. The pair needs a decisive break above 0.6570 to confirm a shift in trend, while failure to do so could push prices back toward the lower end of the recent range
Overall, AUD/USD appears to be in a consolidation phase — caught between short-term recovery attempts and broader bearish undertones. Traders should watch for confirmation around the 0.6550 level before committing to fresh positions
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