The AUDUSD is one of the larger movers today, down -0.46%, pressured by a broader risk-off tone as US equities slide. Nvidia’s earnings failed to extend yesterday’s upside momentum, and that weighed on commodity-linked and higher-beta currencies like the Aussie.
Technically, the pair also failed where it mattered most.
The Asian session high stalled below the highs from earlier this month — levels that marked the year’s high and the highest since February 2023. The inability to extend above that resistance kept the bullish breakout on hold and invited sellers back into the market.
The move lower has found interim support near a key cluster of moving averages:
100-hour MA: 0.70837
200-hour MA: 0.70723
100-bar MA (4H): 0.70624
The session low at 0.7068 stalled within that cluster.
This area is now pivotal.
A sustained break below 0.70624 would increase the bearish bias and shift focus toward:
Week’s low: 0.7025
Last week’s low: 0.70142
A move below those levels would give sellers stronger control and open the door for a deeper correction.
On the topside, buyers need to regain traction above the 0.8000 area (recent resistance zone). So far, rebounds have failed to sustain momentum above that level, keeping sellers in near-term control.
Bottom line:
Failure at multi-month highs + risk-off sentiment = downside pressure.
The MA cluster is the battleground. A break lower increases bearish momentum; holding above keeps the range intact.
