The AUDUSD has fallen for the third time in four days, with its peak near the 100-day moving average at 0.6407. Today’s trading has been volatile, with support found between 0.6287 and 0.6301, but sellers regained control after a temporary rebound.

During this bounce, the pair reached resistance between 0.6327 and 0.6336, but buying momentum diminished, leading to a decline. Currently, AUDUSD sits just below the 0.6300 level, indicating persistent bearish pressure.

A move below 0.6285, which marks a swing area and the 38.2% retracement level, may result in further downward movement. Conversely, if the 0.6285 level holds, it could prompt a recovery, suggesting the pullback may simply be a standard correction.

The recent movement reflects a market that continues to respond sharply to technical barriers, showing a reluctance to establish firm upward momentum. The earlier test of resistance lacked follow-through from buyers, reinforcing the prevailing downside bias. Selling interest remains dominant, with each attempt to recover meeting fresh offers, keeping upward movements limited.

With the pair hovering just beneath 0.6300, every slight rebound has met resistance before gaining much traction. The rejection from the 0.6330 region earlier in the session suggests sellers are still active at those levels. Without a shift in sentiment or a break above recent highs, downward pressure is likely to persist, keeping the focus on lower support zones.

The 0.6285 mark remains a key threshold. A decisive move below this area could open the door to a more pronounced slide as traders who had been banking on stability in this range may begin to capitulate. This is not just a random number on the chart—it aligns with previous swing levels and a Fibonacci retracement point, which many will be watching closely. If the slide continues, eyes will naturally turn to the next areas of potential buying interest, likely near 0.6250.

For those on the other side of the trade, 0.6285 serves as a line in the sand. As long as selling momentum fails to sustain a break beneath it, rebounds remain an option. This would suggest that what we are seeing now is a natural price adjustment rather than the start of an extended downtrend. A swift reclaiming of 0.6300 or beyond could unsettle recent bearish positioning, forcing an adjustment from those who have been pressing for further weakness.

Looking beyond immediate levels, market participants will need to assess how sentiment develops in response to external economic signals. The sensitivity to technical metrics remains high, but confidence in sustained directional movement remains elusive. Each failed attempt to rally or sell off decisively only feeds into the uncertainty, providing opportunities for those navigating short-term swings.