Key points

AUDUSD remains range-bound between 0.6400 and 0.6700, with price currently trading near the upper end of the range.
Buyers defended key support at 0.6617 and the 0.66247–0.6635 swing area, keeping the short-term bias modestly bullish.
Failure to hold above this support zone would signal a failed breakout, likely leading to deeper corrective downside.

The AUDUSD continues to trade in a volatile, two-way pattern, reflecting uncertainty and a lack of sustained directional conviction. Since June, the pair has oscillated between support near 0.6400 and resistance near 0.6700, defining a broad consolidation range. The current price near 0.6636 places the pair closer to the upper end of that range, where upside momentum and selling pressure tend to collide.

Over the past several weeks, price action has tilted modestly higher, with the pair pressing toward the mid-September highs and the highs for the year. The 2025 peak was set on September 17 just above 0.6700, a level that remains a key upside reference for the market. More recently, last week’s high at 0.66853 reinforced the idea that buyers are attempting to build pressure toward that longer-term resistance.

Technically, the recent advance has been constructive. The pair was able to push above the swing area between 0.66247 and 0.6635, as well as clear the 0.6617 level, which marked the October 29 high. During late US trading and into the early Asian session, price pulled back to retest 0.6617, where buyers stepped in, confirming the level as short-term support.

Following that bounce, AUDUSD moved back above 0.6635 and extended toward the next swing-area target near 0.66588, where sellers leaned and forced a pullback. The pair has since slipped back into the 0.66247–0.6635 zone, underscoring the ongoing tug-of-war between buyers and sellers.

For buyers to maintain control in the short term, price needs to hold above the 0.66247–0.6635 area, and ideally remain above 0.6617. A sustained hold keeps the upside bias intact and leaves the door open for another push higher. A break back below these levels, however, would point to a failed move above resistance, increasing the risk of a deeper corrective decline within the broader range.

Watch the video analysis

In the video above, I (Greg Michalowski, author of Attacking Currency Trends) break down the technical factors driving USDCAD in real time, outlining the bias, the risk-defining levels, and the next upside and downside targets that matter most.

Be aware. Be prepared.