AUD/USD stalls at 0.6586 trendline as volatility grips pair

AUD/USD experienced heightened volatility in Tuesday's session, climbing to test key trendline resistance at 0.6586 before sellers stepped in to cap gains. The pair has been caught in wide-ranging swings over recent weeks, struggling to establish clear directional momentum. Technical analysis shows the trendline connecting recent highs acted as a strong barrier, prompting a reversal that maintains the current range-bound structure. The Australian dollar's inability to break above this critical resistance level suggests persistent selling pressure at higher levels. Traders are closely monitoring the 0.6550-0.6600 range, with a decisive break above 0.6586 needed to signal potential bullish continuation toward 0.6620. Conversely, failure to hold above 0.6550 support could accelerate declines toward 0.6500. The volatile price action reflects mixed sentiment amid conflicting global economic signals and uncertainty over commodity demand trends affecting the resource-linked currency.