AUD/USD Forecast: Room to advance beyond 0.7640
AUD/USD Current Price: 0.7612
- US indexes soared at the opening, trimming gains ahead of the close.
- The Australian macroeconomic calendar will remain empty for the rest of the week.
- AUD/USD may reach a fresh year high beyond the current 0.7639.
The Australian dollar keeps consolidating against its American rival near the year high, advancing on Tuesday to 0.7624. The greenback came under selling pressure in a risk-on scenario, with Wall Street soaring to record highs. The pair holds above the 0.7600 area by the end of the American session, despite equities lost momentum and turned red. The Australian macroeconomic calendar will remain empty throughout the week.
AUD/USD short-term technical outlook
The AUD/USD pair has room to extend its gains beyond this year’s high at 0.7639, although current market conditions may delay the breakout. Technically and according to the 4-hour chart, the pair is neutral-to-bullish, as per developing above bullish moving averages. Technical indicators hold within positive levels but lack directional strength.
Support levels: 0.7590 0.7540 0.7495
Resistance levels: 0.7640 0.7680 0.7710
View Live Chart for the AUD/USD
Reprinted from FXStreet，the copyright all reserved by the original author.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.