AUDUSD Technicals: AUDUSD falls sharply but does find support buyers near key MA support | investingLive

The AUDUSD fell on Thursday after a week of steady gains fueled by optimism over improved U.S.–China relations. Late in the day, the FOMC cut rates as expected, but Chair Powell’s dovish tone shifted sentiment. He emphasized that the Fed was not on a preset course for future policy moves, which reduced expectations for a December rate cut and sent the U.S. dollar higher, pushing the AUDUSD lower.

In today’s session, after an early rise in Asia, the pair resumed its move to the downside, breaking below its 100-hour moving average (0.65636). The decline extended through the 38.2% retracement level at 0.65418 and the 100-day moving average at 0.65359, but buyers stepped in near the 200-hour moving average at 0.6531, halting the fall and triggering a modest rebound.

From a technical standpoint, the near-term bias has turned more neutral, with price now caught between key moving averages. Traders will be watching for a break above 0.6563 (100-hour MA) to reassert bullish momentum, or a move below 0.6531 (converging 100-day/200-hour MAs) to tilt the bias back to the downside.