Market Analysis: AUD/USD Regain Strength
Market Analysis: AUD/USD Regain Strength
AUD/USD is consolidating gains from the 0.6825 zone.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar rallied above the 0.6735 and 0.6750 resistance levels against the US Dollar.
- There is a key bullish trend line forming with support at 0.6795 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6700 support. The Aussie Dollar was able to clear the 0.6735 resistance to move into a positive zone against the US Dollar, as mentioned in the previous analysis.
There was a close above the 0.6750 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6825 zone. A high was formed near 0.6824 and the pair recently saw a minor pullback.
There was a move below the 0.6810 level. The pair declined below the 50% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high. On the downside, initial support is near a key bullish trend line at 0.6795.
The next major support is near the 76.4% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high at 0.6780.
If there is a downside break below the 0.6780 support, the pair could extend its decline toward the 0.6750 level. Any more losses might signal a move toward 0.6735.
On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6810. The first major resistance might be 0.6825. An upside break above the 0.6825 resistance might send the pair further higher.
The next major resistance is near the 0.6880 level. Any more gains could clear the path for a move toward the 0.7000 resistance zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
AUD/USD is consolidating gains from the 0.6825 zone.
Important Takeaways for AUD USD Analysis Today
- The Aussie Dollar rallied above the 0.6735 and 0.6750 resistance levels against the US Dollar.
- There is a key bullish trend line forming with support at 0.6795 on the hourly chart of AUD/USD at FXOpen.
AUD/USD Technical Analysis
On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase from the 0.6700 support. The Aussie Dollar was able to clear the 0.6735 resistance to move into a positive zone against the US Dollar, as mentioned in the previous analysis.
There was a close above the 0.6750 resistance and the 50-hour simple moving average. Finally, the pair tested the 0.6825 zone. A high was formed near 0.6824 and the pair recently saw a minor pullback.
There was a move below the 0.6810 level. The pair declined below the 50% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high. On the downside, initial support is near a key bullish trend line at 0.6795.
The next major support is near the 76.4% Fib retracement level of the upward move from the 0.6764 swing low to the 0.6824 high at 0.6780.
If there is a downside break below the 0.6780 support, the pair could extend its decline toward the 0.6750 level. Any more losses might signal a move toward 0.6735.
On the upside, the AUD/USD chart indicates that the pair is now facing resistance near 0.6810. The first major resistance might be 0.6825. An upside break above the 0.6825 resistance might send the pair further higher.
The next major resistance is near the 0.6880 level. Any more gains could clear the path for a move toward the 0.7000 resistance zone.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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