The AUDUSD is the strongest performer against the USD today, benefiting from improved U.S.–China relations over the weekend. The pair opened with an upside gap from Friday’s close and quickly climbed above the 100-day moving average at 0.6534. Although price action was initially choppy in the Asian session—fluctuating around that key MA—the pair later based and accelerated higher through the European morning session.
The rally gained momentum as buyers pushed the price above the 38.2% retracement of the September decline at 0.65418, marking the first sustained move above that level since the October bottom. That retracement now serves as nearby support, with the 100-day MA offering a secondary, more conservative support zone for traders managing long positions.
On the topside, attention turns to a resistance band between 0.6559 and 0.6573, which also includes the 50% retracement level at 0.65733. A decisive break above this area would shift the bias firmly in favor of buyers, opening the door to a more extended recovery and signaling a potential change in the medium-term trend.
