AUDUSD Surges Bullishly After Key Break Above Moving Averages

URGENT UPDATE: The AUDUSD currency pair has just experienced a significant shift from a bearish to a bullish bias during the U.S. trading session today. Buyers have propelled the pair above both the 100- and 200-hour moving averages, specifically breaking the crucial resistance levels near 0.6495 to 0.6497.

This bullish momentum has resulted in a session high of 0.6517, with the pair currently consolidating just below this key level. Intraday support is now forming around 0.6508. As the trading day progresses, the focus will be on whether buyers can extend this momentum by breaking above the 0.65239 ceiling, a level that has historically capped rallies since October 13.

If the AUDUSD surpasses 0.65239, traders will likely shift their attention to the 100-day moving average at 0.65338. This critical barrier was last breached on October 10 and faced rejection just three days later, leading to a drop to the October low of 0.64398.

Today’s upward movement above the hourly moving averages signals a constructive outlook for bullish traders. However, a sustained breakthrough above the 100-day moving average remains essential for confirming a broader bullish trend. Should the AUDUSD fail to maintain this upward trajectory and fall back below the 100- and 200-hour moving averages, it could lead to disappointment for buyers who anticipated a stronger rally today.

Market participants are closely monitoring these developments as the potential for a significant shift in the AUDUSD landscape unfolds. With volatility still expected, traders are advised to keep a keen eye on the charts as this situation continues to evolve.