- AUD/USD bullish recovery stays intact as the US GDP contracts 4.8% in the first quarter
- The level to beat for bulls is the 0.6570 resistance.
AUD/USD four-hour chart
AUD/USD is trading in six-week highs as the bull recovery started mid-March stays intact. The market is holding above the 0.6500 figure and the main SMAs on the four-hour charts as US GDP came in worse-than-anticipated contracting 4.8% in the first quarter of this year. The bulls can have a break of the 0.6570 level en route toward the 0.6660 level on the way up. On the flip side, support should emerge near 0.6500, 0.6445 and the 0.6400 figure.
Resistance: 0.6570, 0.6660, 0.6770
Support: 0.6500, 0.6445, 0.6400
Additional key levels