The AUD/USD failed once again at a key technical barrier. During the European session, the pair was capped at the resistance zone between 0.6625 and 0.6635 – the third time in recent days that sellers defended this area. From there, bearish momentum steadily pushed the market lower.
In the process, price broke below two important moving averages: the 200-hour at 0.6587 and the 100-hour at 0.6591. This marks a meaningful shift in the near-term bias. What previously acted as support now turns into resistance on any corrective pullbacks. As long as the pair trades beneath this zone, sellers hold the advantage.
The next downside target sits at 0.6573. A break there would expose the 50% retracement of the rally from the August low – a level that buyers successfully defended back on September 9. With both a Fibonacci retracement and prior swing low converging, this area becomes a critical decision point if downside momentum extends further.
In short, the picture is clear: sellers are in control. Buyers need to reclaim lost ground to shift momentum back in their favor. Until then, the path of least resistance remains lower.
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