AUD/USD Price Analysis: AUD/USD remains above 0.6750; next barrier at upper boundary


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  • AUD/USD
    may
    test
    the
    upper
    boundary
    of
    the
    ascending
    channel
    around
    the
    level
    of
    0.6785.

  • The
    14-day
    RSI
    is
    positioned
    slightly
    below
    the
    70
    level,
    indicating
    potential
    overbought
    conditions
    and
    a
    forthcoming
    correction.

  • The
    key
    support
    appears
    at
    the
    lower
    boundary
    of
    the
    ascending
    channel
    around
    0.6675
    level.


AUD/USD

extends
its
losses
for
the
third
successive
day,
trading
around
0.6760
during
the
European
hours
on
Thursday.
The
analysis
of
the
daily
chart
shows
that
the
AUD/USD
pair
consolidates
within
an
ascending
channel,
indicating
a
bullish
bias
in
the
pair’s
price
action.

Additionally,
the
14-day
Relative
Strength
Index
(RSI)
is
positioned
slightly
below
the
70
level,
indicating
confirmation
of
the
bullish
trend
while
also
suggesting
potential
overbought
conditions.
A
breach
above
this
level
could
signal
a
need
for
caution,
possibly
indicating
a
forthcoming
correction.

Furthermore,
the
momentum
indicator
Moving
Average
Convergence
Divergence
(MACD)
line
is
above
the
centerline,
suggesting
upward
price
movement.
Divergence
above
the
signal
line
further
confirms
this
bullish
trend,
as
it
indicates
increasing
positive
momentum.

The
AUD/USD
pair
may
test
the
upper
boundary
of
the
ascending
channel
at
approximately
0.6785.
If
it
breaks
through
this
level,
the
pair
could
target
the
psychological
level
of
0.6800.

On
the
downside,
the
AUD/USD
pair
may
find
support
around
the
lower
boundary
of
the
ascending
channel
at
the
0.6675
level,
with
additional
support
near
the
50-day
Exponential
Moving
Average
(EMA)
at
0.6651.
A
break
below
this
level
could
push
the
pair
toward
the
throwback
support
around
0.6590.

AUD/USD:
Daily
Chart


Australian
Dollar
PRICE
Today

The
table
below
shows
the
percentage
change
of
Australian
Dollar
(AUD)
against
listed
major
currencies
today.
Australian
Dollar
was
the
strongest
against
the
Canadian
Dollar.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   -0.08% -0.16% -0.06% 0.10% -0.13% -0.11% -0.10%
EUR 0.08%   -0.07% 0.04% 0.21% -0.03% -0.02% -0.01%
GBP 0.16% 0.07%   0.10% 0.28% 0.04% 0.04% 0.07%
JPY 0.06% -0.04% -0.10%   0.15% -0.07% -0.09% -0.04%
CAD -0.10% -0.21% -0.28% -0.15%   -0.25% -0.22% -0.21%
AUD 0.13% 0.03% -0.04% 0.07% 0.25%   0.00% 0.04%
NZD 0.11% 0.02% -0.04% 0.09% 0.22% -0.01%   0.03%
CHF 0.10% 0.01% -0.07% 0.04% 0.21% -0.04% -0.03%  

The
heat
map
shows
percentage
changes
of
major
currencies
against
each
other.
The
base
currency
is
picked
from
the
left
column,
while
the
quote
currency
is
picked
from
the
top
row.
For
example,
if
you
pick
the
Australian
Dollar
from
the
left
column
and
move
along
the
horizontal
line
to
the
US
Dollar,
the
percentage
change
displayed
in
the
box
will
represent
AUD
(base)/USD
(quote).