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HomeContributorsTechnical AnalysisAUD/USD Pair Moved into a Bullish Zone above 0.6550

AUD/USD Pair Moved into a Bullish Zone above 0.6550

FXOpen
By FXOpen

The Aussie Dollar started a decent increase from the 0.6400 zone against the US Dollar. The AUD/USD pair climbed above the 0.6550 level to move into a bullish zone.

There was a clear move above the 0.6660 level and the 50 hourly simple moving average. The pair even spiked above the 0.6700 level and is currently consolidating gains. An immediate resistance on the upside is near the 0.6715 level and the recent high.

If there is an upside break above the 0.6715 zone, the pair could rise steadily towards the 0.6750 level in the near term. The main resistance now sits near the 0.6800 level.

An immediate support is near the 0.6680 level a connecting bullish trend line on the hourly chart. The next key support is near 0.6640 on FXOpen. A downside break below the 0.6640 support could lead the pair towards the 0.6590 support.

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