AUDUSD technicals remain consistent this week. What will get the pair out of the rut?
The AUDUSD has spent much of this week respecting well-defined technical boundaries, with both buyers and sellers reacting decisively at key levels.
At the highs on Monday, the pair briefly pushed above its 100-day moving average, but each breakout attempt quickly failed as sellers stepped in and overwhelmed buying interest. On Tuesday, the price rotated lower but found support from buyers near the rising 100-hour moving average, helping to stabilize the decline. The subsequent rebound stalled ahead of the 100-day moving average, suggesting buyers had learned from Monday’s failed breakout attempts and were less willing to chase the move higher.
That pattern repeated itself today. During the early European session, AUDUSD moved lower once again, only to find willing buyers against the rising 100-hour moving average. As a result, the pair remains trapped between a well-defined support zone below and key resistance above.
On the downside, support is clustered between the 100-hour moving average at 0.70559, the 50% midpoint at 0.70549, and the 200-hour moving average at 0.70470. As long as the price remains above this support band, buyers retain the near-term technical advantage. It would take a break below 0.70559, 0.70549, and 0.70470 to shift control more firmly back to the sellers.
On the topside, today's rebound has carried the pair back toward the 100-day moving average at 0.70836. However, the session high of 0.7073 remains about 10 pips shy of that key resistance level. For buyers to gain greater control, they need to break above and stay above 0.70836. A successful breakout would then target the next resistance zone between 0.7100 and 0.7113.
For now, traders continue to focus on these nearby technical levels. The market has spent the week oscillating within a relatively tight range, but ranges rarely last forever. At some point, a breakout is likely to emerge, and when it does, traders will be looking for momentum to carry the pair in the direction of that break. Until then, patience and respect for the established boundaries remain the name of the gam
This article was written by Greg Michalowski at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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