**AUD/USD Rebounds Above 100-Hour Moving Average: Key Levels and Market Drivers**
*(Based on original reporting by Arnold Jarvis, FXDailyReport.com, supplemented with market analysis)*
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The Australian dollar (AUD) has shown remarkable resilience against the US dollar (USD) in recent trading sessions. After an early drop, the AUD/USD currency pair bounced off session lows and managed to climb above the crucial 100-hour moving average. This recovery is a clear sign of the market’s ongoing sensitivity to macroeconomic data, shifting risk appetite, and expectations regarding central bank policies.
Below is an in-depth analysis of AUD/USD price action, essential technical levels to watch, economic drivers impacting the pair, and the outlook ahead. This report draws on the latest technical data and supplementing with additional context from global economic trends and market sentiment.
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### Market Recap: AUD/USD Session Summary
– **Early Decline**: The AUD/USD started the session on a weaker note. Initial risk aversion due to global concerns weighed on the Aussie, driving the pair lower.
– **Support and Rebound**: After testing session lows in the vicinity of 0.6590, AUD/USD found solid buying interest. The pair’s recovery was robust enough to push it past the 100-hour moving average, a key short-term technical indicator.
– **Afternoon Stability**: In subsequent hours, the pair maintained its hold above this moving average.
This session illustrates the tug-of-war between sellers and buyers, with technical levels and economic headlines providing the battleground.
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### Technical Analysis: Key Levels in Play
The AUD/USD’s oscillations are framed by short-term and medium-term support and resistance levels. Here is a breakdown of the technical setup:
#### Recent Price Behavior
– The pair fell towards 0.6590, where buyers defended the level.
– It rebounded and moved decisively above the 100-hour moving average, establishing this as short-term support.
#### Technical Indicators
– **100-Hour Moving Average (MA)**: A reclaimed 100-hour MA now offers immediate support, currently situated around 0.6605–0.6610.
– **200-Hour MA**: Positioned just above the pair—this is a bearish hurdle at approximately 0.6632.
– **Support Zones**:
– Initial support: 0.6590 (recent session low)
– Medium-term support: 0.6570
– Major support: 0.6550
– **Resistance Levels**:
– Immediate resistance: 0.6650 (recent swing high)
– Further resistance: 0.6675–0.6680
– Key psychological barrier: 0.6700
#### Candlestick Patterns
– The rebound from the lows produced a bullish candlestick on intraday charts, suggesting momentum could see a further upside test if bullish pressure is sustained.
#### Technical Outlook
– Holding above the
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