The AUDUSD made a run higher in early trading, but momentum stalled at a familiar resistance zone — just below the 38.2% retracement of the move down from the December high, and near the swing high from two weeks ago.

That ceiling, around 0.6390–0.64136, remains a key upside barrier. Buyers made a push, but the failure to break through suggests a lack of conviction and opens the door for a bearish reversal.

The pair is now sliding back toward a cluster of key moving averages on the 4-hour chart — including the 100-bar and 200-bar MAs on the 4-hour chart and the 100 day MA — currently between 0.6305–0.6317 area. A move below this zone would tilt the bias back to the downside and potentially trigger further selling.

For now, the AUDUSD remains stuck in a battle between upside resistance and the moving average support base. Which side breaks will likely determine the next directional push.

Key technical levels:

• Resistance: 0.6390–0.64136 (recent high + 38.2% retracement)

• Support: 0.6305–0.6317 (cluster of moving averages)

• Bias: Neutral near-term, bearish if MAs break