AUD/USD Price Analysis: Greenback’s drop accelerates the rise above 0.6600

AUD/USD carries the previous day’s recovery gains to attack 0.6650.
US dollar index (DXY) refreshes two-month low under 98.50.
Two-day-old symmetrical triangle questions immediate upside.
200-HMA adds to the support below the triangle’s lower line.

Anil Panchal FXStreet

AUD/USD takes the bids around 0.6658, up 0.20% on a day, during the pre-European session on Friday.

The Aussie pair recently gained traction after the US dollar index (DXY), a gauge of the greenback versus the major currencies, slipped to the fresh low since March 30 to 98.25.

Even so, the quote stays inside the immediate triangle formation between 0.6665 resistance and 0.6625 support.

As the bullish MACD favors the pair’s run-up past-0.6665, it’s wise to expect a further rise towards 0.6700 afterward.

Alternatively, a downside break below 0.6625 might have to take a rest on a 200-HMA level of 0.6580.

AUD/USD hourly chart

Trend: Sideways to positive

Additional important levels

Overview
Today last price	0.665
Today Daily Change	13 pips
Today Daily Change %	0.20%
Today daily open	0.6637

Trends
Daily SMA20	0.651
Daily SMA50	0.6343
Daily SMA100	0.6484
Daily SMA200	0.6658

Levels
Previous Daily High	0.6668
Previous Daily Low	0.6587
Previous Weekly High	0.6617
Previous Weekly Low	0.641
Previous Monthly High	0.657
Previous Monthly Low	0.598
Daily Fibonacci 38.2%	0.6637
Daily Fibonacci 61.8%	0.6618
Daily Pivot Point S1	0.6593
Daily Pivot Point S2	0.655
Daily Pivot Point S3	0.6513
Daily Pivot Point R1	0.6674
Daily Pivot Point R2	0.6711
Daily Pivot Point R3	0.6754

Author

Anil Panchal

FXStreet

Anil Panchal has nearly 15 years of experience in tracking financial markets. With a keen interest in macroeconomics, Anil aptly tracks global news/updates and stays well-informed about the global financial moves and their implications.

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