The AUDUSD moved higher in the Asian session after stronger-than-expected CPI data pushed inflation to 3%, aligning with the RBA’s 2–3% medium-term target range. That upside move carried the pair into a swing area between 0.66247 and 0.6635, where the 200-hour moving average at 0.66305 also sits. Sellers leaned against that level, and with the broader USD buying pressure across the majors, momentum shifted back to the downside (and a higher USD).
The pair has since broken below both the 100-hour moving average at 0.6600 and the 38.2% retracement of the August–September rally at 0.65948. Just beneath lies a swing area between 0.6589 and 0.6593, adding to the near-term bearish tilt.
What next?
For sellers to maintain control, the price needs to stay below the falling 100-hour MA at 0.6600. If that holds, focus turns to recent swing lows near 0.6578, followed by a support zone between 0.6559 and 0.6567, which also includes the 50% midpoint at 0.65603.. Conversely, move back above the 100-hour moving average would neutralize the technical bias in have traders thinking of the topside resistance near the 200-hour moving average as a potential target at 0.66305.
The video above outlines all the key levels and explains the technical reasons for their importance.
