AUD/USD Price Analysis: Attracts some buyers, 0.6500 appears a tough nut to crack for Aussie bears

AUD/USD trades near 0.6435, holds above the 50- and 100-hour EMAs.
The immediate resistance level for AUD/USD is seen at the 0.6445-0.6455 zone; 0.6418 acts as an initial support level.
Relative Strength Index (RSI) stands in bullish territory above 50.

Lallalit Srijandorn FXStreet

The AUD/USD pair attracts some buyers and bounced off the 0.6420 area during the early European session on Thursday. The pair currently trades around 0.6438, gaining 0.25% on the day. The newest Australian employment data have little impact on the Aussie and investors await the US economic data for fresh impetus.

According to the one-hour chart, AUD/USD holds above the 50- and 100-hour Exponential Moving Averages (EMAs) indicating that the path of least resistance for the pair is to the upside.

The immediate resistance level for AUD/USD is seen near the upper boundary of the Bollinger Band and a high of September 13 at the 0.6445-0.6455 zone. Further north, the 0.6500-0.6505 regions appear a tough nut to crack for Aussie bears. The mentioned level represents the confluence of a psychological round mark and a high of August 14. Any meaningful follow-through buying above the latter could pave the way to 0.6522 (high of August 15) and 0.6570 (high of August 9).

On the downside, the 100-hour EMA at 0.6418 acts as an initial support level. The key contention is located at the 0.6400-0.6405 region, representing the lower limit of the Bollinger Band and a psychological round figure. A decisive breach of the latter will see the next stop at 0.6380 (low of August 25) and finally at 0.6365 (low of August 17).

In the meantime, the Relative Strength Index (RSI) stands in bullish territory above 50, challenging the pair’s immediate upside for the time being.

AUD/USD one-hour chart

AUD/USD

Overview
Today last price	0.644
Today Daily Change	0.0018
Today Daily Change %	0.28
Today daily open	0.6422

Trends
Daily SMA20	0.6427
Daily SMA50	0.6566
Daily SMA100	0.6621
Daily SMA200	0.6708

Levels
Previous Daily High	0.6434
Previous Daily Low	0.638
Previous Weekly High	0.648
Previous Weekly Low	0.6357
Previous Monthly High	0.6724
Previous Monthly Low	0.6364
Daily Fibonacci 38.2%	0.6401
Daily Fibonacci 61.8%	0.6414
Daily Pivot Point S1	0.639
Daily Pivot Point S2	0.6358
Daily Pivot Point S3	0.6336
Daily Pivot Point R1	0.6444
Daily Pivot Point R2	0.6466
Daily Pivot Point R3	0.6498

Author

Lallalit Srijandorn

FXStreet

Lallalit Srijandorn is a Parisian at heart. She has lived in France since 2019 and now becomes a digital entrepreneur based in Paris and Bangkok.

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