AUDUSD is currently hovering near 0.6535, finding stability after a recent pullback into the rising trendline on the daily chart. The pair has been attempting to push higher, but the 0.6550–0.6680 resistance zone continues to act as a ceiling, where sellers consistently step in.
The 50-day and 200-day SMAs sit close together, reflecting a market without strong directional conviction. As long as AUDUSD holds above 0.6415, buyers still have a structural advantage in the short term.
A daily close below that level, however, would shift momentum back in favor of bearish continuation.
On the weekly chart, price is still capped under the long-term descending trendline, a key barrier that has held since early 2022. This means that despite recent stabilization, the broader market bias remains bearish, and rallies are still vulnerable to selling pressure.
Key Levels to Watch:
Resistance: 0.6550 → 0.6680
Support: 0.6415 → 0.6360 → 0.6210
Breakout trigger: Above 0.6680 (would signal trend shift)
Breakdown trigger: Below 0.6415 (opens room toward 0.6210)
My Takeaway:
The Aussie is holding support, but trendline resistance dominates the bigger picture. Bulls need a clear break above 0.6680 to confirm momentum; otherwise, pullbacks remain more likely, especially if risk sentiment softens.