Feb 7 (Reuters) - FX traders hoping to take advantage of the usual bullish February trend should be mindful of huge technical resistance that could well limit the upside.

An analysis of AUD/USD's February performance since 2000 shows it has risen in 16 of the past 25 years, or 64% of the time. However, seasonality should not be considered in isolation, it needs to be corroborated by other factors.

AUD/USD was weathering a bad case of whiplash on Friday having rallied from new dizzying 2025 lows at 0.6089 hit early in the week, but remains vulnerable to a relapse. Spot's rebound has been limited by thick daily cloud resistance, which currently spans the 0.6289-0.6433 region, highlighting the overall bearish market structure. There is scope for bigger losses below 0.6089, which in turn would unmask the 0.6000 psychological level.

However, those that are bullish can take comfort from the fourteen-day positive momentum reading. A break above January's 0.6330 high would increase the likelihood that AUD/USD could end February in positive territory.
Seasonality Chart:


Daily Chart

(Martin Miller is a Reuters market analyst. The views expressed are his own)