AUD/USD Retreats After Breaking Above Key Moving Averages

AUD/USD pushed higher during today's session, extending above both the 100-hour and 200-hour moving averages for the first time since June 17, when the pair broke below these key technical levels following the more hawkish-than-expected FOMC decision. However, buyers have been unable to sustain the momentum, with some of the upside now being retraced. The initial breakout above both moving averages signaled a potential shift in short-term sentiment, as the macroeconomic backdrop has evolved since the Fed's June meeting. Traders are closely watching whether the pair can hold above these dynamic support levels on the pullback, as a failure to do so would invalidate the bullish breakout and likely trigger renewed selling pressure. The 100-hour and 200-hour moving averages now serve as immediate support, and a sustained close above both would confirm a near-term trend reversal. Conversely, a drop back below these averages could attract fresh sellers and push the pair toward recent lows. Traders should monitor upcoming US and Australian economic releases for directional cues.