AUDUSD finds resistance at key MAs as sellers retake short-term control | Forexlive

The AUDUSD moved lower yesterday and moved back below the 200 day MA (currently at 0.64608) and the rising 100 hour MA (blue line currently at the same 0.64608 level). The fall stalled near the 200 hour MA into the close and rebounced in the early Asian Pacific session.

The price move higher earlier in the day stalled near a dual resistance zone, defined by the 100-hour moving average and the 200-day moving average, both converging near 0.64608. That rejection marked a turning point, as the price quickly rotated lower, breaking below the 200-hour moving average at 0.6430—a short-term bearish shift. The price also reentered into a Red Box consolidation area that defined the trading range going back to mid-April.

Selling momentum carried the pair down toward the 100-bar moving average on the 4-hour chart, located at 0.6408, where support buyers stepped in, temporarily halting the decline. The bounce that followed has brought the price back toward the 200-hour MA, now acting as the close resistance level. The high of the Red Box extends up to 0.64419.

The sellers are making a play back below the 200 day moving average, the 100 hour moving average, and back within the Red Box and the 200 hour moving average. The buying break to the upside earlier this week is fizzling out a bit

Going forward, if price breaks and stays below 0.6408, it would open the door for a deeper correction toward the next lower swing area and the 200-bar MA on the 4-hour chart, currently near 0.6318.

Key technical levels:

• Resistance:
  
  • 0.64608 = 100-hour MA / 200-day MA
  
  • 0.6430 = 200-hour MA

• Support:
  
  • 0.6408 = 100-bar MA on 4-hour chart
  
  • 0.63437 = lower swing area
  
  • 0.6318 = 200-bar MA on 4-hour chart

Sellers will look for a sustained break below 0.6408 to add confidence, while buyers need a move back above 0.6460 to regain control.