AUD – Australian dollar continues to stabilize

Technically, the Australian dollar has held above its 100-day moving average in recent months against the US dollar. It previously tested this level in June, but rebounded after failing to break through. Coupled with the renewed upward trend in the RSI, this suggests a potential stabilization for the Australian dollar. Upward resistance will initially focus on the 25-day moving average at 0.6520, followed by 0.66 and the 50-month moving average at 0.6730. Medium-term resistance lies at last September's high of 0.6942, further towards the 0.70 mark. Support lies at the 100-day moving average at 0.6440, with the next levels seen at 0.6370 and 0.6340, followed by the next key reference at 0.6280.

Forecast range:
Resistance: 0.6520 - 0.6600 - 0.6730 - 0.6942
Support: 0.6440 - 0.6370 - 0.6340 - 0.6280

Focus:
Tuesday
Australia August Consumer Confidence Index (08:30)

Thursday
Australia August Preliminary PMI (07:00)

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