AUD/USD hit a new low, testing the 200-hour moving average at 0.6225 and the 100-hour moving average at 0.6227. These levels are crucial for determining short-term direction for both buyers and sellers.

If buyers defend this area, it would signal continued support, keeping them in the game. However, a sustained move below these moving averages would strongly shift the bias in favor of sellers. On a breakout lower, the next key targets are 0.6215, followed by last Friday’s low at 0.6198 and then the 2024 low of 0.6179, recorded on December 31.

Conversely, if the support holds, the pair could make a quick rally, with potential upside targeting the 100-bar moving average on the 4-hour chart at 0.6264.