AUD/USD Price Analysis: All set to challenge monthly top near 0.6800


  • AUD/USD picks up bids to refresh weekly high during three-day uptrend.
  • A successful break of 50-SMA, one-week-old descending trend line favor buyers.
  • Monthly support line, 61.8% Fibonacci Expansion level act as additional trading filters.

AUD/USD takes the bids to renew weekly top around 0.6755 during early Thursday as buyers cheer a three-day uptrend.

In doing so, the Aussie pair cheers the previous day’s upside break of the 50-SMA and a downward-sloping trend line from November 17, respectively near 0.6690 and 0.6620.

Also keeping the pair buyers hopeful is the sustained trading beyond the previous resistance line from late October, as well as the 200-SMA, amid the bullish MACD signals.

That said, the AUD/USD buyers are well-positioned to challenge the monthly high of 0.6792 with eyes on 0.6800.

Following that, the 61.8% Fibonacci Expansion (FE) level surrounding 0.6840 could entertain the bulls before directing them to September’s peak of 0.6916.

Meanwhile, AUD/USD pullback remains elusive unless the quote provides a decisive break below the 50-SMA and the previous resistance line, close to 0.6690 and 0.6620 in that order.

Even so, a one-month-old ascending trend line near 0.6585 can challenge the AUD/USD bears.

In a case where the quote remains bearish past 0.6585, the odds of witnessing a south-run towards the 200-SMA level of 0.6455 can’t be ruled out.

AUD/USD: Four-hour chart

Trend: Further upside expected

Additional important levels

Overview
Today last price 0.675
Today Daily Change 0.0011
Today Daily Change % 0.16%
Today daily open 0.6739
 
Trends
Daily SMA20 0.6553
Daily SMA50 0.6487
Daily SMA100 0.6691
Daily SMA200 0.694
 
Levels
Previous Daily High 0.6739
Previous Daily Low 0.6634
Previous Weekly High 0.6798
Previous Weekly Low 0.6634
Previous Monthly High 0.6548
Previous Monthly Low 0.617
Daily Fibonacci 38.2% 0.6699
Daily Fibonacci 61.8% 0.6674
Daily Pivot Point S1 0.6669
Daily Pivot Point S2 0.6599
Daily Pivot Point S3 0.6565
Daily Pivot Point R1 0.6774
Daily Pivot Point R2 0.6808
Daily Pivot Point R3 0.6878

 

 

Share: Feed news

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Recommended content


Recommended content

Editors’ Picks

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD recovers toward 1.0500 after mixed US PMI data

EUR/USD rebounds toward 1.0500 in the American session on Friday after the data from the US showed that the business activity in the private sector expanded at a softer pace than anticipated in early February. The pair remains on track to end the week with little changed.

EUR/USD News
GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD rises above 1.2650, looks to post weekly gains

GBP/USD regains its traction and trades above 1.2650 in the second half of the day on Friday. The data from the US showed that the S&P Global Services PMI dropped into the contraction territory below 50 in February, causing the US Dollar to lose strength and helping the pair edge higher.

GBP/USD News
Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 as US yields edge lower

Gold holds above $2,930 after correcting from the record-high it set above $2,950 on Thursday. Following the mixed PMI data from the US, the benchmark 10-year US Treasury bond yield stays in negative territory below 4.5% and allows XAU/USD to hold its ground.

Gold News
Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Crypto exchange Bybit hacked for $1.4 billion worth of ETH

Following a security breach first spotted by crypto investigator ZachXBT, crypto exchange Bybit announced that it suffered a hack where an attacker compromised one of its ETH wallets.

Read more
Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

Money market outlook 2025: Trends and dynamics in the Eurozone, US, and UK

We delve into the world of money market funds. Distinct dynamics are at play in the US, eurozone, and UK. In the US, repo rates are more attractive, and bills are expected to appreciate. It's also worth noting that the Fed might cut rates more than anticipated, similar to the UK. In the eurozone, unsecured rates remain elevated.

Read more
The Best brokers to trade EUR/USD

The Best brokers to trade EUR/USD

SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.

Read More

Forex MAJORS

Cryptocurrencies

Signatures

Best Brokers of 2025