AUD/CHF is once again knocking on the door of a major resistance zone, but the outcome remains the same. After rallying back toward 0.5853, buyers were met with fresh selling pressure, triggering another rejection from a level that has consistently capped gains throughout October.

With price now trading near 0.5824, traders are left wondering whether the repeated failures signal seller dominance or whether resistance is becoming vulnerable after multiple tests.

0.5853 Continues to Reject Every Rally

The standout feature on the chart is the 0.5853 resistance zone.

Three separate attempts to break above this level have failed, with sellers emerging each time price approached the area. These repeated rejections have reinforced 0.5853 as the key barrier controlling the market's near-term direction.

From a technical perspective, the more often a level is tested, the more important it becomes. A successful breakout could trigger a sharp move higher, while another rejection would strengthen the case for a deeper pullback.

Momentum 

The latest rally pushed AUD/CHF into the upper Bollinger Band, highlighting strong bullish momentum as buyers attempted another breakout.

However, the swift rejection from resistance has forced price back toward the Bollinger midline near 0.5825, a sign that upside momentum is cooling.

The inability to hold near the upper band suggests buyers are becoming less aggressive as the pair approaches the top of the range.

Support Levels 

If sellers maintain control, several support zones could become important over the coming sessions:

Key Support Levels

  • 0.5797 – Initial support
  • 0.5746 – Major range support
  • 0.5712 – Lower support zone

These levels have previously attracted buying interest and could provide potential stabilization areas should the current pullback extend.

RSI 

Momentum indicators are beginning to reflect the weakening price action.

The Relative Strength Index climbed to approximately 66, approaching overbought territory before turning sharply lower. RSI has now retreated to around 54, indicating that bullish momentum has faded significantly following the latest rejection.

While the indicator remains above the neutral 50 level, the decline suggests buyers no longer have the same conviction that fueled the earlier advance.

AUDCHF, Time frame: 4H, Source: TradingViewAUDCHF, Time frame: 4H, Source: TradingView