AUDUSD Technical Analysis Summary

In a recent analysis by Greg Michalowski, the AUDUSD currency pair has shown a significant shift in its technical posture, indicating a potential bullish trend. The pair has moved above the converged 100-hour and 200-hour moving averages, currently positioned at 0.70659, which has altered the short-term bias to a more positive outlook.

Recent Performance

Over the past 24 hours, the AUDUSD has transitioned from a defensive stance, where it struggled below the 200-hour moving average, to a more constructive position. Previously, the pair faced resistance at the 200-hour MA, with sellers consistently pushing back against rallies. However, after testing this resistance multiple times, the pair managed to break above both the 100-hour and 200-hour MAs, indicating a shift in control towards buyers.

Key Levels and Momentum

During the previous trading session, the AUDUSD experienced a brief dip below the rising 100-bar moving average on the 4-hour chart, which had been a reliable support level. Despite this, the downside momentum was weak, and buyers quickly re-entered the market, preventing a drop towards the broader range floor near 0.7014.

In the Asian-Pacific session, the technical tone improved significantly as the pair surged above the key moving averages, converting them from resistance to support. The price action pushed through a critical swing area between 0.7094 and 0.70988, and even surpassed Monday’s high of 0.7111, reaching a new near-term high of 0.71165. However, the momentum has since stalled, and the pair has retraced slightly while remaining above the 100- and 200-hour MAs.

Outlook and Next Steps

For the bullish sentiment to strengthen further, the AUDUSD must:

• Reclaim and maintain levels above 0.7094–0.70988.
• Build momentum towards the recent high of 0.7116.
• Target the 2026 high at 0.71464.

A sustained trade above 0.7099 would confirm that the recent pullback is merely corrective, leading traders to focus on the year’s high at 0.71464 as the next significant target. Conversely, if the price falls below the rising 100- and 200-hour MAs, it would weaken the short-term bullish structure and likely lead to a rotation back towards the mid-range of the broader three-week consolidation.

Conclusion

The AUDUSD has shown signs of recovery and buyer control, but traders should remain vigilant about key levels that will dictate the next moves in this currency pair. The technical indicators suggest a cautious optimism, with the potential for further gains if the bullish momentum can be sustained.