AUDUSD range break remains the main focus after the pair stayed locked between 0.6961 and 0.7026 for the past eight trading days.
The pair has shown little lasting direction during that period. Meanwhile, the 100-hour moving average stands at 0.6991 and the 200-hour moving average sits at 0.6994. Because price has stayed near the middle of the range, those two levels may move even closer in the next few hours.
That setup points to a market with no clear trend. However, the pair now trades below both hourly moving averages. As a result, the near-term bias leans to the downside, with sellers watching for a move under 0.6961.
AUDUSD Range Break Levels to Watch
On the upside, resistance comes in at 0.7022. That level marks the 38.2% retracement of the drop from the May high to the late-June low. If the pair clears that point and holds above it, traders may then look to the 100-day moving average at 0.7056 and the 50% retracement at 0.7071.
A move above both of those levels would raise the chance of a push toward 0.7100. On the downside, a break below 0.6961 would point to stronger seller control. Therefore, support would come into view at 0.6927, then 0.6911, and later at the rising 200-day moving average at 0.6896.
Australia CPI in View Next Week
The 200-day moving average remains a key level for the pair. Notably, AUDUSD has not traded below that average since November 25, 2025. If the pair falls through that line, the June low at 0.6865 would be exposed.
Until the range breaks, the hourly moving averages remain an important guide for short-term trade. Trading above them would favor buyers and support a move toward the top of the range. In contrast, trading below them would keep pressure on the lower boundary.
Next week, Australia will release CPI data on Wednesday. The year-on-year reading is expected to stay unchanged at 4.0%.
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Source: InvestingLive
