AUD/USD Asia Price Forecast: Aussie hits fresh 5-month highs vs. US dollar

AUD/USD is trading near its highest level since early January 2020.
The level to beat for bulls is the 0.6990 resistance.

Flavio Tosti Independent Analyst

AUD/USD four-hour chart

AUD/USD breaks to fresh 5-month highs as the USD selloff remains unabated. The aussie is trading just below the 0.6990 resistance and above its main SMAs while the market capitalizes on the bullish momentum. However, the quote will need a clear break beyond the 0.6990 level for a potential run towards the 0.7183 resistance levels. On the other hand, support can emerge near the 0.6834 and 0.6749 levels.

Additional key levels

AUD/USD

Overview
Today last price	0.6922
Today Daily Change	0.0026
Today Daily Change %	0.38
Today daily open	0.6896

Trends
Daily SMA20	0.6565
Daily SMA50	0.6398
Daily SMA100	0.6481
Daily SMA200	0.6658

Levels
Previous Daily High	0.6899
Previous Daily Low	0.6774
Previous Weekly High	0.6683
Previous Weekly Low	0.6519
Previous Monthly High	0.6683
Previous Monthly Low	0.6372
Daily Fibonacci 38.2%	0.6851
Daily Fibonacci 61.8%	0.6822
Daily Pivot Point S1	0.6814
Daily Pivot Point S2	0.6731
Daily Pivot Point S3	0.6689
Daily Pivot Point R1	0.6939
Daily Pivot Point R2	0.6981
Daily Pivot Point R3	0.7064

Author

Flavio Tosti

Independent Analyst

EUR/USD trims gains, back below 1.1800

EUR/USD now loses some upside momentum, returning to the area below the 1.1800 support as the Greenback manages to regain some composure following the SCOTUS-led pullback earlier in the session.

GBP/USD off highs, recedes to the sub-1.3500 area

Following earlier highs north of 1.3500 the figure, GBP/USD now faces some renewed downside pressure, revisiting the 1.3490 zone as the US Dollar manages to regain some upside impulse in the latter part of the NA session on Friday.

Gold climbs to weekly tops, approaches $5,100/oz

Gold keeps the bid tone well in place at the end of the week, now hitting fresh weekly highs and retargeting the key $5,100 mark per troy ounce. The move higher in the yellow metal comes in response to ongoing geopolitical tensions in the Middle East and modest losses in the US Dollar.