**AUD/USD Technical Analysis: New Highs as Pair Breaks Away From 100-Day Moving Average**
*Original reporting and analysis by Adam Button via ForexLive / TradingView*
The AUD/USD currency pair is drawing traders’ attention as it mounts a significant technical move, breaking past its 100-day moving average and pushing to new short-term highs. This technical breakout could set the stage for further momentum in the days ahead, as traders assess economic data, central bank policy expectations, and the broader risk environment.
This article provides an in-depth technical and fundamental analysis of the AUD/USD pair, incorporating recent price actions, key chart levels, and factors influencing the Australian dollar’s trajectory. The analysis draws on original reporting by Adam Button, complemented by current market commentary and recent developments.
—
### Market Breakout: AUD/USD Clears Technical Hurdles
The AUD/USD pair has recently vaulted above a critical resistance area, setting a fresh multi-week high and trading decisively above its 100-day moving average. This development marks a potential shift in momentum, attracting both technical and fundamental traders.
#### Key Breakout Details
– **Break above 100-Day MA:** AUD/USD climbed over the 100-day moving average, signaling bullish sentiment and a possible trend reversal.
– **Fresh Multiday Highs:** The currency pair established a new high for the latest trading session, indicating sustained buying interest.
– **Technical Resistance Cleared:** Previous resistance zones have been surpassed, solidifying short-term support and emboldening bulls.
#### Why is the 100-Day MA Significant?
The 100-day moving average is widely followed by technical traders. A price move above this level often suggests a transition from a bearish or neutral outlook to a more bullish stance. It can act as both a barrier and, once crossed, a platform for further gains.
—
### Technical Chart Analysis
A closer look at the daily chart for AUD/USD highlights several notable technical factors:
– **Previous Ranges:** The pair had been range-bound, with buyers and sellers jockeying for control below key resistance.
– **Support and Resistance:** After clearing the 100-day MA, new support is now established in the 0.6617-0.6620 area. The next key resistance is visible at 0.6700, then possibly at 0.6730.
– **Relative Strength Index (RSI):** The RSI is moving higher but remains below overbought levels, suggesting there may be further room to the upside before momentum stalls.
– **Moving Averages Positioning:** The recent price action has forced the shorter-term moving averages to begin turning up, a sign that the short-term trend is also shifting in favor of buyers.
#### Notable Technical Levels:
– **Support:** 0.6617-0.6620 (recent breakout zone)
– **Immediate resistance:** 0.6700
– **Secondary resistance:** 0.6730 (recent swing high)
– **Longer term resistance:**
Read more on AUD/USD trading.