I think the key to understanding this song, is to remove the last line of the two first choruses "It's your face I've been looking for - on every street"
That way you might see, that he's not looking for "HER"
He's a lonesome wanderer, looking for what he once was... but he got older.
The vocally fatigue "and a hazardous load" leads to his sorrow, his anger, the water comes rushing in "the moon's hanging upside down"
I think the key to understanding this song, is to remove the last line of the two first choruses "It's your face I've been looking for - on every street"
That way you might see, that he's not looking for "HER"
He's a lonesome wanderer, looking for what he once was... but he got older.
The vocally fatigue "and a hazardous load" leads to his sorrow, his anger, the water comes rushing in "the moon's hanging upside down"
It's his guilt, he misses his youth.