AUDUSD looks for bullish expansion

AUDUSD marks new higher high, breaks key resistance area. Short-term bias positive, but 0.6715 zone adds some pressure.
XM Group | 540 dias atrás

AUDUSD experienced a spectacular rally after a dovish FOMC policy meeting earlier this week, crawling as high as 0.6727 on Thursday – the highest level since the end of July.

The bulls have finally breached the resistance trendline from April 2022 with a strong attitude after a failed attempt at the start of the month, increasing optimism that the upside reversal from October’s one-year low could continue. The RSI and the stochastics are in line with this view since they haven’t confirmed overbought conditions yet despite fluctuating near their 70 and 80 levels, respectively.

The 0.6715 constraining zone, which had been limiting both upside and downside movements for more than a year, is currently under examination. If it gives way, the ascent could pick up pace towards the 0.6800 round level and then up to the June-July 2023 double top formation at 0.6894. Should the bulls gain more ground, the next obstacle could occur near the 0.6980 area.

Alternatively, a downward correction could initially pause somewhere between the nearby support of 0.6655 and the broken resistance trendline. If that floor collapses, the pair could seek shelter near its exponential moving averages (EMAs) currently seen between 0.6520 and 0.6600. Additional declines from there could stabilize near the 2020 ascending line at 0.6470 or lower at 0.6400. Then, the spotlight could turn to the important 0.6269-0.6300 region.

In short, AUDUSD is holding a bullish bias. While a slowdown could be possible after the latest aggressive rebound, the bulls might keep their focus on the 0.6800 mark in the coming sessions.

Regulamento: CySEC (Cyprus), FSC (Belize), DFSA (UAE), FSCA (South Africa)
read more
Markets Brace for NFP Showdown | 6th June, 2025

Markets Brace for NFP Showdown | 6th June, 2025

On June 6, 2025, global financial markets are cautious ahead of the US Nonfarm Payrolls (NFP) report, expected to show 130,000 jobs added in May with a steady 4.2% unemployment rate. The Australian Dollar (AUD/USD at 0.6510) declines amid USD recovery (DXY at 98.80) but downside is limited by market caution.
Moneta Markets | 5 dias atrás
Silver Shines, Dollar Wavers | 5th June, 2025

Silver Shines, Dollar Wavers | 5th June, 2025

On June 5, 2025, global markets are navigating a mix of economic data, trade uncertainties, and monetary policy expectations. The US Dollar (DXY at 98.90) recovers modestly after weak US data (ISM Services PMI at 49.9, ADP at 37K) but remains capped by Fed rate-cut bets (70% for two 25 bps cuts in 2025) and fiscal concerns.
Moneta Markets | 6 dias atrás