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HomeContributorsTechnical AnalysisAUD/USD Pair Gained Pace above 0.6740 to Move into a Positive Zone

AUD/USD Pair Gained Pace above 0.6740 to Move into a Positive Zone

FXOpen
By FXOpen

The Aussie Dollar started a fresh increase above the 0.6720 resistance against the US Dollar. The AUD/USD pair gained pace above 0.6740 to move into a positive zone.

The pair even climbed above the 0.6750, but the bears seem to be active near the 0.6765 zone. The pair is now consolidating below the 0.6765 zone and the 50 hourly simple moving average. The next major resistance is near the 0.6780 level.

If there is an upside break above the 0.6780 zone, the pair could rise steadily towards the 0.6840 level in the near term. The next major resistance sits near 0.6880 on FXOpen.

An immediate support is near the 0.6750 level. The next key support is near the 0.6720 level. A downside break below the 0.6720 support could lead the pair towards the 0.6660 support.

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