Mon, Jun 05, 2023 @ 16:46 GMT
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AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a decent increase from the 0.6640 support. The Aussie Dollar broke the 0.6715 resistance to move into a positive zone.

The pair tested the 0.6775 zone and is currently consolidating gains. If there is a downside correction, the pair might find bids near a key bullish trend line at 0.6740 on the hourly chart. The next key support is near 0.6715 and the 50-hour simple moving average.

A downside break below the 0.6715 support might open the doors for a test of the 0.6667 support. Any more losses might send AUD/USD toward the 0.6580 support.

An Immediate hurdle for the bulls is at 0.6775. The next major resistance is near the 0.6800 level. If there is an upside break above the 0.6800 zone, the pair could rise steadily toward the 0.6820 level. Any more gains might send AUD/USD toward 0.6840.

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