The AUDUSD continues to trade within a choppy but technically respectful range. On the 4-hour chart above, price action stalled yesterday after reaching to a new high for the year, but within a key swing area and the 61.8% retracement of the October-to-March move lower, between 0.65357 and 0.65537. Sellers leaned against that area and pushed the pair lower, confirming it as a critical resistance zone going forward.

Despite the pullback, buyers have reemerged near the 100-bar moving average on the 4-hour chart (blue line on the chart about, currently around 0.64744. That MA held both today’s low and last week’s low, marking it as a near-term support anchor. Other nearby moving averages—like the 200-bar on the 4-hour at 0.64500 is another support level.

The pair remains in a technically-driven consolidation range with clearly defined topside resistance and supportive moving average zones below. A break above 0.65537 would shift bias more firmly in favor of the bulls, while a move below the layered support levels starting with the 100 bar moving average on the 4- hour chart would signal a shift in momentum back to the downside.

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