AUDUSD rebounds. Looks to the Jan and Feb lows

After plunging to new lows this week, AUDUSD has staged a sharp rebound, but the recovery is now testing a key resistance area defined by prior swing levels and retracement targets. Yesterday’s high extended to the January swing low at 0.61306, while today’s rally is testing the February low at 0.60874. Nestled between these two levels is the 38.2% retracement of the 2025 downtrend at 0.61139, creating a tight cluster of resistance.

This zone—between 0.60874 and 0.61306—marks a critical hurdle for buyers. A break above would suggest a shift in momentum and open the door toward the 0.6170, where the 50% retracement reside.

Until then, sellers may look to lean against this resistance area, keeping the broader bearish bias in play.

Buyers are making play. Can they keep the momentum going or will sellers lean?

🔹 Key levels to watch:

Resistance zone: 0.60874 (Feb low), 0.61139 (38.2%), 0.61306 (Jan low)
Support: 0.6050, then 0.6000 and 0.59322
Bullish breakout target: Back above the 50% midpoint at 0.6170 (and swing area around that retracement level)