Daily Chart

The daily chart reveals a gradual uptrend since the start of the month, with prices holding above the 50 and 200-day moving averages, confirming a medium to long-term bullish tone. Bollinger Bands are expanding with price near the upper band, indicating increased volatility. The MACD stays above zero, showing sustained positive momentum. The recent attempt to break higher from resistance points to a potential continuation of bullish momentum. However, any pullbacks may find support near 0.6550, aligned with moving averages.

1H Chart

The hourly chart for the past 3-5 days shows AUDUSD consolidating within a tight range between 0.6600 and 0.6650. Short-term moving averages have formed a golden cross, but the Bollinger Bands have contracted, and the MACD momentum is weakening, suggesting a pause in bullish momentum. The formation of a bearish engulfing candlestick indicates possible short-term pullback or sideways action. Overall, the trend remains bullish, awaiting guidance from the upcoming US PCE data.

Technical Trend:  The current AUDUSD trend is cautiously bullish and consolidative, showing a mild upward trajectory waiting for key data-driven confirmation.

Technical insights show AUDUSD maintaining bullish dominance on the daily chart with moving averages and MACD supporting the trend. The bearish engulfing candlestick on the hourly chart cautions of short-term consolidation. Volume and momentum indicators suggest a potential pause before a decisive breakout. Traders should closely monitor the US PCE data and watch if the price can break and hold above the critical 0.6650 resistance level.

Today’s key economic events revolve around Europe and the US, with primary relevance to AUDUSD being the US Personal Consumption Expenditures (PCE) and core PCE releases at 14:30 GMT+1. Since PCE is a preferred inflation gauge for the Federal Reserve, the data will significantly influence USD strength and thus AUDUSD price movements. A stronger-than-expected PCE could bolster the dollar and pressure AUDUSD down, while a weaker print may support further AUD gains. Other global data today are unlikely to have direct notable impact on AUDUSD.

Resistance & Support

<

p style=”padding: 10px; margin: 20px 0; border: solid 1px #fa003f; border-radius: 5px;”>The above financial market data, quotes, charts, statistics, exchange rates, news, research, analysis, buy or sell ratings, financial education, and other information are for reference only. Before making any trades based on this information, you should consult independent professional advice to verify pricing data or obtain more detailed market information. 1uptick.com should not be regarded as soliciting any subscriber or visitor to execute any trade. You are solely responsible for all of your own trading decisions.