The Australian dollar has been rising since the beginning of the week, supported by improved risk appetite in the markets and rising copper and metal prices, which are closely linked to the performance of the Australian economy.
Conversely, the US dollar came under some pressure after the release of CPI inflation data that met expectations without any surprises, reducing the likelihood of a rate hike at the next Federal Reserve meeting.
These changes supported AUD/USD’s stability above the 0.6280 level, with attempts to break the 0.6330 resistance level continuing.
Technical Indicator Analysis
Moving Averages
The price is above the 50, 100, and 200 moving averages.
The moving averages indicate a continuation of the uptrend.
MACD
Remains positive, but signs of slowdown are showing.
The convergence of the two lines may indicate a possible correction.
Stochastic
Exited the overbought zone and is heading down.
May indicate a short correction wave towards support
Technical Analysis for Australian Dollar: Possible Scenarios
Bullish Scenario
A clear break of 0.6330 could push the price towards 0.6350.
If 0.6350 is broken, the next target will be 0.6380.
Bearish Scenario
if the pair fails to break 0.6330, it may return to test support at 0.6285.
A break of 0.6265 temporarily disrupts the upward momentum.
Trading strategies based on Buy/Sell levels
| In case of buying | in case of selling | GBPUSD |
| 0.63302 | 0.62883 | Entry point |
| First resistance: 0.63502 | First support: 0.62665 | Target Point 1 (TP1) |
| Second resistance 0.63703 | Second support 0.62364 | Target Point 2 (TP2) |
| 10.62883 | 0.63302 | Stop Loss (SL) |
The AUD/USD pair remains within a technically stable uptrend, but indicators are beginning to show signs of an approaching short-term correction.
From a technical and economic perspective, it is preferable to buy only after a break of 0.6330, or to buy on a successful retest of the 0.6280 area.
A break of 0.6265 would signal a temporary exit from the bullish range.
