AUDUSD breaches critical support, signaling bearish shift. Risk is now 0.6395 for sellers | Forexlive

The AUDUSD has broken decisively below a key technical zone that includes the 100-hour moving average, the 200-hour moving average, and a well-tested swing area between 0.6390 and 0.6395 (highlighted by red-numbered circles on the chart). That area had served as a support and resistance pivot multiple times in March/April, and the latest break tilts the short-term bias back toward the downside.

Earlier today, buyers pushed the pair above a swing area between 0.6429 and 0.6441, but momentum stalled quickly and ahead of the 200-day moving average at 0.6464, capping the upside.

That gave the sellers the go-ahead to push back to the downside. The break below the aforementioned area between 0.6390–0.6395 zone increases the bearish bias at least the short-term, and now turns that region into a close risk level for sellers. Staying below this area keeps the bearish bias intact.

On the downside, traders will watch the next key target between 0.6321 and 0.63436, where recent lows and swing support levels converge (see green numbered circles). A break below that zone would open the door toward the broader support area near its 100 day moving average at 0.6282. The price last traded below its 100 day moving average back on April 14.