The AUDUSD is showing a more bearish tone as price action dips below the 100- and 200-bar MAs on the 4-hour chart, which are clustered between 0.6528 and 0.65399. As long as the pair stays below this moving average resistance zone, sellers retain near-term control.

The channel structure remains intact, and recent price action continues to respect that formation. On the downside, buyers have been showing up in the 0.6484 to 0.6502 area, a zone that has caught multiple bottoms over the last few weeks (see red numbered circles). There was one brief failed break, but the support has largely held.

A firm move below 0.6484 would weaken the technical picture and open the door toward the next key support near the channel trendline at 0.6462, followed by 0.6407

To shift bias more definitively back in favor of the bulls, price would need to reclaim the MAs at 0.6528 and 0.6539. Until then, sellers remain favored within the broader range.

This article was written by Greg Michalowski at investinglive.com.