AUD/USD Price Analysis: Hurdles 200-DMA and turns bullish, eyeing 0.6600

AUD/USD gains 0.34% on positive sentiment, defying a negative housing market report impact.
Neutral bias with an upside tilt; breach of 200-DMA at 0.6579 may target 0.6600 and 0.6639.
Downside risks include 200-DMA at 0.6579 and the January 17 low of 0.6523 before testing 0.6500.

Christian Borjon Valencia FXStreet

The Australian Dollar (AUD) registers solid gains from the US Dollar (USD) amid an upbeat market mood following the release of an improvement in consumer sentiment and a bad housing market report. At the time of writing, the AUD/USD exchanges hands at 0.6373, gains 0.34%.

The daily chart portrays the pair as neutral biased, though tilted to the upside, after breaking above the 200-day moving average (DMA) at 0.6579. Further upside is seen at 0.6600, followed by the 50-day moving average (DMA) at 0.6639. Once surpassed, the next stop would be the January 12 cycle high at turned resistance at 0.6728.

For a bearish resumption, AUD/USD first support would be the 200-DMA at 0.6579, followed by the January 17 daily low of 0.6523. A drop below that level, and sellers could challenge the 0.6500 figure

AUD/USD Price Action – Daily Chart

AUD/USD Technical Levels

AUD/USD

Overview
Today last price	0.6598
Today Daily Change	0.0030
Today Daily Change %	0.46
Today daily open	0.6568

Trends
Daily SMA20	0.6723
Daily SMA50	0.6645
Daily SMA100	0.6518
Daily SMA200	0.6582

Levels
Previous Daily High	0.6575
Previous Daily Low	0.6526
Previous Weekly High	0.6735
Previous Weekly Low	0.6647
Previous Monthly High	0.6871
Previous Monthly Low	0.6526
Daily Fibonacci 38.2%	0.6556
Daily Fibonacci 61.8%	0.6545
Daily Pivot Point S1	0.6538
Daily Pivot Point S2	0.6508
Daily Pivot Point S3	0.6489
Daily Pivot Point R1	0.6587
Daily Pivot Point R2	0.6605
Daily Pivot Point R3	0.6636

Author

Christian Borjon Valencia

FXStreet

Markets analyst, news editor, and trading instructor with over 14 years of experience across FX, commodities, US equity indices, and global macro markets.

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