AUDUSD Technical Update: Volatile swings but bears keep short-term edge | Forexlive

.

Since April, AUDUSD has seen its fair share of volatility. The overall bias had tilted higher, with Friday’s surge marking the highest level since November. But the script flipped fast.

Tuesday’s sharp drop saw price action tumble to the 38.2% retracement from the June rally. After a bounce in Asia, the early U.S. session brought more weakness, dragging the pair below that key Fibonacci level and to a low of 0.6495.

Then came the Trump shock: firing headlines sent AUDUSD ripping higher—above the 200-hour moving average at 0.6541—but buyers ran out of steam just shy of the 100-hour MA at 0.6554. Once the denial hit, the pair dropped again.

Now, AUDUSD trades below both the 100- and 200-hour MAs and under a critical swing zone between 0.6535 and 0.65565. That keeps the short-term bias pointed lower.

What’s next?

A break and hold below 0.6509 would open the door to 0.6495 and 0.6483—key support levels tied to both the 50% retracement and last week’s lows. On the flip side, reclaiming the 200-hour MA could flip the tone, but for now, sellers remain in control.

📉 Watch 0.6509—below it, and the sellers tighten their grip.