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AUDUSD holds 100-hour support but slips back from 0.7022

The pair rebounded from its low at 0.7002, moving from 0.6991 up to 0.7026 before failing to sustain a break above the 0.7021 to 0.7022 resistance cluster.

Reported · Written up by our desk · Major Pairs

Forexlive reports AUDUSD moved lower at the start of trading but drew buyers around its rising 100-hour moving average, a level that also held during the previous Asia-Pacific session.

The rebound carried the currency pair from a low of 0.6991 to 0.7026, pushing it above last week’s high at 0.7021 and briefly trading above the 38.2% retracement of the May high to late-June low near 0.7022.

However, buyers were unable to maintain momentum above the 0.7021 to 0.7022 resistance area, allowing sellers to regain control as broader U.S. dollar strength weighed on the pair.

Following the rejection, AUDUSD declined back toward the 0.7000 zone, with the current low reaching 0.7002, while the 100-hour moving average near 0.69962 remains the near-term technical pivot.

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