2026-03-12 01:07:00
AUD/USD is having trouble making fresh March highs!
Will the recent bearish candlesticks trigger a pullback toward key retracement levels?
We’re taking a closer look at the 4-hour time frame:
Hawkish remarks from RBA Governor Bullock and Deputy Governor Hauser have helped lift the Australian dollar over the past few days.
The U.S. dollar has held its ground but still gave up some pips to the Aussie as markets leaned toward cautious risk-taking.
Now AUD/USD is hovering near a key resistance zone, and Friday’s U.S. NFP release, along with geopolitical headlines later in the week, could determine whether the pair extends its uptrend or pulls back.
Remember that directional biases and volatility conditions in market price are typically driven by fundamentals. If you haven’t yet done your fundie homework on the Australian dollar and the U.S. dollar, then it’s time to check out the economic calendar and stay updated on daily fundamental news!
AUD/USD has been trading inside an ascending channel pattern since late January and is now testing the top of the pattern near the .7200 psychological handle.
So far, bearish pressure has only pulled the pair back to around the .7145 area. But if risk sentiment sours, AUD/USD could slide toward stronger support near .7050, where the channel midpoint, the 50% Fibonacci retracement, and the 100 and 200 SMAs all line up.
A milder pullback could also show up around the R1 (.7177) Pivot Point and the previous resistance zone, which may now act as support.
On the flip side, if buyers stay in control and AUD/USD pushes above the .7200 handle and the R2 (.7210) Pivot Point, the pair could open the door for a move toward the next upside level near .7250.
Whichever bias you end up trading, don’t forget to practice proper risk management and stay aware of top-tier catalysts that could influence overall market sentiment.
Promoted: The Analysis & Strategy are only half the Battle; Your Mindset is the Rest.
Today’s chart art zooms in on AUD/USD’s trend pullback opportunities. But as any pro will tell you, even the cleanest trend-following setup can fall apart if the trader doesn’t stay disciplined when price starts testing the level.
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Please be aware that the technical analysis content provided herein is for informational and educational purposes only. It should not be construed as trading advice or a suggestion of any specific directional bias. Technical analysis is just one aspect of a comprehensive trading strategy. The technical setups discussed are intended to highlight potential areas of interest that other traders may be observing. Ultimately, all trading decisions, risk management strategies, and their resulting outcomes are the sole responsibility of each individual trader. Please trade responsibly.
