AUDUSD has seen up and down trading today. The price is testing swing area resistance. | Forexlive

The AUDUSD began the week with choppy, up-and-down price action, fluctuating around the rising 100-hour moving average at 0.62759. In both the Asian and European sessions, the pair attempted to break below this level but failed to sustain downside momentum. Each dip was met with buying interest, keeping the pair in a volatile range.

In early U.S. trading, buyers have regained control, pushing the pair higher. The rebound could be attributed to a risk-on sentiment driven by stock market gains and the market’s ability to absorb tariff-related news without a significant sell-off. This shift has led the pair to extend gains, reaching new daily and weekly highs.

Currently, AUDUSD is testing the lower boundary of a key swing area between 0.6287 and 0.63016, a resistance zone that has previously acted as a ceiling. While this level was breached on January 24 and January 27, bullish momentum quickly faded, leading to price reversals.

A sustained breakout above this resistance zone would solidify the bullish bias, with traders shifting focus toward the next key target—the 2025 high at 0.6331. However, if the pair fails to maintain momentum above this level, a pullback toward the 100-hour moving average at 0.62759 could be the next move.