AUDUSD drops below key moving averages, trend remains bearish

The AUDUSD currency pair tried to rise this week, moving above the 100-day moving average for the first time since October 2024. However, buying interest faded, and sellers pushed the price back down. This shift has tilted the market's overall trend to the downside as the week comes to an end. Yesterday, the AUDUSD dropped below the important 100 and 200-bar moving averages on the 4-hour chart, which are around 0.6297. As the new trading day begins, prices are returning toward these moving averages. Sellers are maintaining pressure, keeping the trend downward. During the U.S. trading session, the pair continued to fall. It reached key support levels between 0.6254 and 0.6268. This area has shown strong support in the past, with yesterday’s low also bouncing back from this level. A break below this support could indicate further declines. For sellers, a significant point is the 100-bar and 200-bar moving averages on the 4-hour chart, located at 0.62959 and 0.63058, respectively. If the price rises above these levels, buyers may seek another attempt to reach the 100-day moving average.