Technical Analysis for AUD/USD : The Australian dollar benefits from: rising commodity and metal prices, especially copper and gold, improved growth prospects for China, Australia’s largest trading partner, and a general weakness in the US dollar due to mixed economic data. This all reinforces the positive outlook for AUD in the medium term.
Technical Indicator Analysis
Moving Averages
The price is above the three moving averages (50, 100, and 200).
Strong positive technical support has been present since the beginning of April.
MACD
Moderate positive momentum.
Still supporting the continuation of the uptrend.
Stochastic
In overbought areas (above 75).
May indicate the possibility of a slight correction before completing the uptrend.
Possible Scenarios
Bullish Scenario
Continued consolidation above 0.6418 supports a target of 0.6449 and then 0.6457.
Breaking 0.6457 would trigger a rise towards 0.6480.
Bearish Scenario
Failure to consolidate above 0.6418 could push the price to test the downside. 0.6395
A break of 0.6376 temporarily weakens the bullish structure
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | AUDUSD |
| 0.64349 | 0.63959 | Entry point |
| First resistance: 0.64575 | First support: 0.63754 | Target Point 1 (TP1) |
| Second resistance 064773 | Second support 0.63552 | Target Point 2 (TP2) |
| 0.63959 | 0.64349 | Stop Loss (SL) |
The AUD/USD pair is showing strong bullish signals in the medium term, provided it holds above 0.6418.
It is recommended to closely monitor the 0.6457 level, which may constitute a decisive resistance for extending gains.
Best Strategy: Buy on a bounce or clear breakout above 0.6457, with a stop loss below 0.6395.
