AUDUSD Technical Analysis: Sellers Wrestle Back Control as Correction Deepens

The AUDUSD pair is currently experiencing renewed selling pressure as it undergoes a downside correction that indicates a shift in near-term sentiment, with sellers regaining short-term market control. The price has broken below the historically significant swing area between 0.66247 and 0.6635, indicating a failure of previous support. This shift suggests a bearish bias, as the hourly charts reveal price action below the 100 and 200-hour moving averages, which act as dynamic resistance. Traders focusing on the bearish move can use the swing area ceiling around 0.6635 as the main resistance level. The critical support to watch is the 0.6580-0.6584 cluster, which must be decisively broken to enhance the bearish stance.