AUDUSD sellers in control. What turns that bias around? What targets are on the downside?

he AUDUSD has declined this week, weighed down by concerns over tariffs and diverging monetary policies. While the US Fed held rates steady, the RBA now has inflation within the 2%-3% target range which opens the door for potential policy easing.

• Technical Overview:
  • The price remains below the 100-hour MA at 0.62397, keeping sellers in control. A break above this level would shift the bias away from sellers.
  • On the downside, support was found at a swing area between 0.61917 and 0.61999, where the price stalled and bounced yesterday, reinforcing its importance as a key level.
  • If the price breaks below 0.61917, further downside probing is likely, with the next targets at 0.6165 to 0.61779.

Traders should monitor these levels closely as they could determine the next directional move for the pair, but the sellers are more in control.

This article was written by Greg Michalowski at www.forexlive.com.