Because the buying and selling week involves a detailed, the AUDUSD is greater on the week and continues to commerce above a key cluster of shifting averages, together with the 100-hour shifting common at 0.7093, the 200-hour shifting common at 0.7078, and the 100-bar shifting common on the 4-hour chart at 0.7070.
Holding above this shifting common cluster retains consumers firmly in management. A transfer beneath would start to tilt the short-term bias to the draw back, however sellers would nonetheless have further work to do to totally shift momentum.
Extra particularly, the value would want to break and stay beneath the early-February lows between 0.7014 and 0.7025. That zone has repeatedly acted as a flooring — serving as assist this week, final week, and beforehand on February 9 — making it a key draw back management stage. A sustained transfer beneath that space would strengthen the bearish case materially.
On the topside, the February excessive at 0.7146 got here inside 11 pips of the February 2023 excessive at 0.7157. These ranges signify the speedy upside targets heading into the brand new buying and selling week. A break above this resistance zone would open the door for additional upside momentum and a broader bullish extension.
