The $AUDUSD pair struggled to maintain its initial gains and is trading near 0.6800 in early Thursday morning, reflecting market uncertainty following mixed signals from US Federal Reserve Chairman Jerome Powell and China. The pair rebounded on Wednesday, indicating a possible end to the correction from previous highs, and is currently above key SMAs on the daily chart. Technical indicators on the 4-hour chart support the Aussie, but it needs to hold above 0.6800 and surpass the 20-period SMA and downtrend line around 0.6815/20 for further gains towards 0.68360. However, if it fails to hold above 0.6800, the pair may continue in corrective mode, with potential sell targeting 0.6720 after breaking the support at 0.6783.

Support level: 0.6783, 0.6720
Resistance level: 0.68059, 0.68360