AUDUSD support resistance held firm on Tuesday as buyers defended the 0.6961 area and sellers blocked gains near key hourly moving averages.
The pair fell in the Asian-Pacific session and moved farther from its near-converged 100-hour and 200-hour moving averages. However, the drop stopped near a rising trendline and the lower edge of a swing area around 0.6961. The session low reached 0.6963, just above that support zone.
Buyers then stepped in at that level and pushed the pair higher. They used a break below the support area as their risk point. As a result, the rebound carried AUDUSD back toward the moving average cluster.
AUDUSD Support Resistance Marks Key Levels
The 100-hour moving average stood at 0.6986, while the 200-hour moving average came in at 0.6991. That area drew sellers again. Therefore, the recovery stalled and the pair turned lower once more.
AUDUSD later traded around 0.6973, leaving price stuck between clear support and resistance. Buyers held the rising trendline and swing support, which stopped a deeper slide. Meanwhile, sellers defended the two hourly moving averages and capped the bounce.
Moving Averages Cap the Rebound
The technical picture now points to the same levels as the main guide. On the downside, the rising trendline and the 0.6961 swing area remain the key support zone. If price stays above those levels, buyers remain active.
On the upside, the near-converged 100-hour and 200-hour moving averages remain the main barrier. A move above those averages would strengthen the bullish bias and shift focus to further upside targets.
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Source: InvestingLive
