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AUD/USD Technical Analysis

On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase above the 0.6830 resistance. The Aussie Dollar traded above the 0.6860 resistance before the bears appeared.

The pair tested the 0.6900 zone before there was a bearish reaction. There was a break below a key bullish trend line at 0.6860 and the 50-hour simple moving average. The pair traded close to the 0.6830 support and is currently attempting another increase.

The first key resistance is near 0.6860. If there is an upside break above the 0.6860 zone, the pair could rise steadily toward the 0.6900 level. Any more gains might send AUD/USD toward 0.6950.

On the downside, there is a decent support near the 0.6830 level, below which the pair might test the 0.6780 support. Any more losses might send the pair toward the 0.6740 support.

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