AUDUSD stuck in a range, eyes key resistance ahead

The AUDUSD continues to trade in a choppy, range-bound market since Tuesday. During the late Asian and early European sessions, the pair found support at 0.6334, which sits within a key swing area between 0.6326 and 0.6341 (see green numbered circles on the chart above).

On the topside, today’s high stalled at 0.6382, just below a notable resistance ceiling at 0.6390. The last 3 highs including yesterday, have stalled at that level (see red numbered circles). A break above that level would shift focus toward:

• The 2025 high from February at 0.6407

• The 50% retracement of the decline from the September 30, 2024 high, coming in at 0.6428

For now, AUDUSD remains range-bound, but a break outside the current boundaries could set the tone for the next directional move