AUD - Australian dollar consolidates at high level

The Australian dollar has been blocked near the 0.64 level many times this year. Although it was able to cross the 0.64 mark last week, it has been constrained by the 0.6440 level for many days, and the 200-day moving average is not far away at 0.6460. After the recent sideways consolidation, if it can cross the 200-day moving average again, it is expected that the Australian dollar will be able to start a new upward trend, with the extended target looking at the 250-day moving average of 0.6510 and 0.66 levels, and then refer to the high of 0.6687 in November last year. As for the current closest support, it is estimated at 0.6340 and the 100-day moving average of 0.6280, and the next level is expected to be 0.6130 and 0.60.

Forecast range:
Resistance 0.6440* – 0.6510 – 0.6600 – 0.6687
Support 0.6340 – 0.6280 – 0.6130 – 0.6000

Any questions? contact our professional analysis team