Australian Dollar Price Action Setups: AUD/USD, AUD/JPY, GBP/AUD
By Matt Simpson, Market Analyst
Date: 24/03/2026
Market Overview
The Australian dollar (AUD) remains resilient against major currency pairs, although underlying momentum shows signs of divergence. The AUD/USD pair is currently confined within a defined range, while AUD/JPY is testing critical support levels, and GBP/AUD is indicating potential for a pullback from a resistance cluster.
This situation suggests that while range trading strategies are still applicable, there are increasing risks of breakouts or reversals in key AUD cross rates.
AUD/USD Technical Analysis
The AUD/USD pair has shown surprising strength, remaining within a choppy range between the highs of 2023 and 2024. Recent price action includes a long-legged doji that respected a high-volume node (HVN) without breaching the 0.69 resistance level. An inside candle formed subsequently, hinting at potential bullish pressure within this range.
Despite options traders leaning towards downside protection, a bullish divergence is forming with AUD/USD prices, suggesting a possible bounce unless a daily close above 0.69 is achieved.
GBP/AUD Technical Analysis
The GBP/AUD pair has experienced a countertrend bounce, but a shooting star candle indicates a potential swing high. This candle formed at a significant resistance level, including the 50-day EMA, a weekly HVN, and the 38.2% Fibonacci retracement level. The RSI is also in overbought territory, suggesting a possible near-term pullback.
While one candle alone does not confirm a trend reversal, the context of its formation at a resistance cluster increases the likelihood of a pullback in GBP/AUD.
AUD/JPY Technical Analysis
The AUD/JPY pair is in a well-defined uptrend, but recent momentum has shifted against it. Key support is identified around the 110 level, coinciding with the 50-day EMA and previous highs from 1991 and 2024. The daily RSI indicates oversold conditions, and a minor bullish divergence is forming on the 4-hour chart.
Traders are looking for a swing low to establish momentum in line with the broader uptrend, potentially around the current levels or closer to the 110 support zone.