AUD/USD sits near two-week high, above 0.6700 amid positive risk tone and weaker USD

The AUD/USD moved away from monthly lows, staging a needed recovery that was capped by the 0.6660 area. Technical indicators offer no clear signs after hours of consolidation in a small range. A slide below 0.6630 would put the AUD/USD on the road again for 0.6600. Below, there is not much until the critical support area of 0.6560/80 that is keeping the pair afloat. 

The 4-hour chart shows the 20-period Simple Moving Average acting as resistance around 0.6660. A break higher could lead to a test of the horizontal and psychological area of 0.6700, reinforced by a downtrend line. If the Aussie holds above the 0.6705 zone, it would retake a key technical area. A failure to rise above might be seen as the sellers are still in control. 

Support levels: 0.6630 0.6570 0.6530

Resistance levels: 0.6665 0.6695 0.6730

Anytime, Anywhere on Any Device

Anytime, Anywhere on Any Device

Join the hundreds of thousands of happy and empowered customers
in our community thanks to Citizen's unparalleled liquidity solutions