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Forex News

Aussie breaks to six-week highs, challenges 0.6450 level

  • AUD/USD bullish recovery stays intact as the week kicks off. 
  • The level to beat for bulls is the 0.6445 level on a daily basis.

 

AUD/USD daily chart

 

AUD/USD is trading in six-week highs as the bullish recovery from mid-March remains intact. The market is holding above the 0.4300 figure and the 50 SMA on the daily time frame. 

 

AUD/USD four-hour chart

 

AUD/USD is trading just above the 0.6445 resistance as bulls remain in control while the spot is trading above the main SMAs while printing higher highs and lows. The quote is seen appreciating in the medium-term with bulls setting their eyes on the 0.6570 and 0.6660 levels. On the flip side, support can emerge near 0.6400 and 0.6350 levels. 

 

 

Resistance: 0.6445, 0.6570, 0.6660

Support: 0.6400, 0.6350, 0.6260

 

Additional key levels

 

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