Headline: AUD/USD Pins Between 0.6420 Support and 200-Day MA Ceiling
The Australian dollar is stuck in a tight technical range against the US dollar, with buyers defending a familiar floor while sellers reassert control at a key moving average. The AUD/USD 4-hour chart shows a decisive tug-of-war that could set the tone for the next directional move in forex trading.
On the downside, price found demand at a long-standing swing zone between 0.6407 and 0.6424, a region that has underpinned the pair since May and again in August. Today’s session respected that area once more, with the pair rebounding after touching 0.6420. As long as AUD/USD holds above this base, a corrective bounce remains in play.
However, the recovery is facing stiff resistance near the 200-day moving average around 0.6459, which intersects a narrow topside band at 0.6458–0.6462. This level flipped to resistance after being broken earlier in the week and is now capping gains. A sustained break above the 200-day MA would weaken the bearish bias and open the door to further upside, while failure to clear it keeps momentum tilted lower and risks a retest of the recent lows.
Key Points – AUD/USD buyers defended a key support zone at 0.6407–0.6424, with an intraday low near 0.6420. – The 200-day moving average around 0.6459 is acting as immediate resistance. – A resistance cluster at 0.6458–0.6462 is capping the current rebound. – Holding below the 200-day MA maintains a bearish bias toward recent lows. – A decisive break above 0.6462 would signal shift toward a bullish correction.
