**AUD/USD Daily Technical Outlook and Analysis**
*Based on reports from ActionForex.com and incorporating additional insights from market analysis.*
—
### Overview
The Australian Dollar (AUD) against the US Dollar (USD), represented by the AUD/USD currency pair, remains a closely watched instrument in the forex market. Its price movements often reflect not only the underlying strength of the two currencies but also broader economic trends such as commodity prices, trade relations, and shifts in risk sentiment. As of the latest analysis, traders are paying attention to signals that could determine whether the pair will extend its recent rally or face renewed selling pressure.
—
### Recent Price Action and Technical Landscape
– **Short-Term Movement**: The AUD/USD pair exhibited a continued upward trajectory during the latest trading sessions. Buyers kept the momentum alive, pushing the pair to test notable technical resistance levels.
– **Key Levels**:
– Support Level: 0.6578
– Resistance Level: 0.6713 (a significant high reached previously)
– **Intra-Day Behavior**: The currency pair is currently sustaining its position above the 0.6650 area. Bullish pressures have been observed as the pair rebounds from lower levels tested earlier in the year.
– **Indicators**:
– Moving Averages: The 20-day and 50-day moving averages are trending upwards, signaling potential continuity in the positive momentum.
– Relative Strength Index (RSI): The RSI remains in a neutral zone, suggesting room for further upside before reaching overbought territory.
– **Volume**: Upticks in trading volume have corresponded with upward price movements, indicating stronger buyer conviction.
—
### Technical Outlook and Projections
**Immediate Outlook**
– The AUD/USD remains supported above the 0.6578 mark on a daily closing basis.
– Reclaiming and maintaining ground above 0.6650 would strengthen the case for another attempt at the 0.6713 peak.
– If buyers push the pair above 0.6713, further resistance is expected at 0.6770 and then towards the psychologically important level of 0.6800.
**Bearish Scenario**
– A downside break below 0.6578 support would signal a possible shift in momentum, exposing the pair to further declines.
– Secondary support lies at 0.6535, and below that, at 0.6500.
– Sustained selling below 0.6500 could open the path to a retest of 0.6450 and eventually the 0.6400 support area.
**Broader Trend**
– Since forming a base near 0.6460 in early 2024, the pair has gradually built a bullish structure, characterized by a series of higher lows and higher highs.
– A decisive move above 0.6713, especially if confirmed by robust volume, would confirm a bullish trend reversal.
– Failure to clear resistance and a breakdown through key support would raise the risk
Read more on AUD/USD trading.