The Australian dollar continued to rise, supported by a recovery in global risk appetite and rising metal prices (especially copper and gold), which are key drivers of the Australian currency.
Conversely, the US dollar is awaiting today’s retail sales data, amidst volatility and temporary weakness, allowing minor currencies like the AUD to achieve gains.
Technical Indicator Analysis
Moving Averages
The price is above all moving averages (50, 100, and 200).
A sustained upward trend supports continued momentum.
MACD
A clear positive crossover.
Bars are expanding, indicating strong momentum.
Stochastic
Strongly heading towards overbought areas.
Short-term momentum remains bullish.
Technical Analysis for the Australian Dollar : Possible Scenarios
Bullish Scenario
Continued rise towards 0.6405 and then 0.6425.
Provided stability above 0.6380
Bearish Scenario
Failure to maintain 0.6380 could push it to test 0.6350.
A break of 0.6330 will temporarily postpone the bullish scenario.
Trading strategies based on Buy/Sell levels
| AUDUSD | In case of buying | in case of selling |
| Entry point | 0.64055 | 0.63503 |
| Target Point 1 (TP1) | First resistance: 0.64055 | First support: 0.63211 |
| Target Point 2 (TP2) | Second resistance 0.63855 | Second support 0.61009 |
| Stop Loss (SL) | 0.63503 | 0.64055 |
The AUD/USD pair is showing a clear bullish trend, supported by strong fundamentals and positive technical indicators.
A recent break above 0.6380 could open the way for further gains, especially if US data is neutral or negative.
A buy entry above 0.6380 is recommended, targeting 0.6405 and 0.6425, with a stop loss below 0.6350..
