AUD/USD New York Price Forecast: Aussie clings to six-week highs as US GDP disappoints

AUD/USD bullish recovery stays intact as the US GDP contracts 4.8% in the first quarter.
The level to beat for bulls is the 0.6570 resistance.

Flavio Tosti Independent Analyst

AUD/USD four-hour chart

AUD/USD is trading in six-week highs as the bull recovery started mid-March stays intact. The market is holding above the 0.6500 figure and the main SMAs on the four-hour charts as US GDP came in worse-than-anticipated contracting 4.8% in the first quarter of this year. The bulls can have a break of the 0.6570 level en route toward the 0.6660 level on the way up. On the flip side, support should emerge near 0.6500, 0.6445 and the 0.6400 figure.

Resistance: 0.6570, 0.6660, 0.6770

Support: 0.6500, 0.6445, 0.6400

Additional key levels

AUD/USD

Overview
Today last price	0.6518
Today Daily Change	0.0027
Today Daily Change %	0.42
Today daily open	0.6491

Trends
Daily SMA20	0.629
Daily SMA50	0.6306
Daily SMA100	0.6574
Daily SMA200	0.6691

Levels
Previous Daily High	0.6515
Previous Daily Low	0.6434
Previous Weekly High	0.6406
Previous Weekly Low	0.6253
Previous Monthly High	0.6686
Previous Monthly Low	0.5509
Daily Fibonacci 38.2%	0.6484
Daily Fibonacci 61.8%	0.6465
Daily Pivot Point S1	0.6444
Daily Pivot Point S2	0.6398
Daily Pivot Point S3	0.6363
Daily Pivot Point R1	0.6526
Daily Pivot Point R2	0.6561
Daily Pivot Point R3	0.6607

Author

Flavio Tosti

Independent Analyst

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