AUD/USD Price Analysis: Turns south following rejection above 0.7600

AUD/USD reverts to test the critical short-term support at 0.7586.
Buyers remain hopeful amid a potential golden cross on the hourly sticks.
RSI remains bullish, allowing room for more upside.

Dhwani Mehta FXStreet

AUD/USD is paring back gains in the European session, having failed to find acceptance above 0.7600.

The aussie bulls are taking a breather after the four straight days of gains, looking to find some support at the critical short-term support at 0.7586, which the 21-Hourly Moving Average (HMA).

If the above support gives way, a test of the confluence of the 50 and 200-HMAs at 0.7581 will be on the cards.

Further south, the psychological 0.7550 level could offer lend some support to the buyers.

AUD/USD: Daily chart

However, with the Relative Strength Index (RSI) still holding above the midline, the retreat appears limited.

Also, the 50-HMA is about to cut the 200-HMA from below, which will confirm a golden cross on the said timeframe.

These indicators keep the aussie bulls hopeful in the near term.

Acceptance above 0.7600 will open doors towards the June 17 highs of 0.7646.

However, the bearish 21-Daily Moving Average (DMA) at 0.7618 could test the bullish commitments before that.

AUD/USD: Additional levels

AUD/USD

Overview
Today last price	0.7590
Today Daily Change	0.0006
Today Daily Change %	0.08
Today daily open	0.7584

Trends
Daily SMA20	0.7666
Daily SMA50	0.7722
Daily SMA100	0.7721
Daily SMA200	0.756

Levels
Previous Daily High	0.7593
Previous Daily Low	0.7564
Previous Weekly High	0.7727
Previous Weekly Low	0.7477
Previous Monthly High	0.7892
Previous Monthly Low	0.7674
Daily Fibonacci 38.2%	0.7582
Daily Fibonacci 61.8%	0.7575
Daily Pivot Point S1	0.7568
Daily Pivot Point S2	0.7552
Daily Pivot Point S3	0.7539
Daily Pivot Point R1	0.7596
Daily Pivot Point R2	0.7609
Daily Pivot Point R3	0.7625

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

EUR/USD climbs to daily highs near 1.1820

EUR/USD now picks up pace and advances to the area of daily peaks north of the 1.1800 barrier at the end of the week. The pair’s decent move higher comes against the backdrop of a generalised lack of direction in the FX galaxy and the mild offered stance in the US Dollar.

GBP/USD trims losses, retests 1.3460

After briefly challenging its key 200-day SMA near 1.3440, GBP/USD now manages to regain some balance and revisit the 1.3460 zone on Friday. Cable’s pullback comes as the selling pressure on the Greenback gathers traction, reigniting some recovery in the risk-linked space.

Gold flirts with four-week highs past $5,200

Gold extends its rebound, climbing for a third consecutive session and pushing back above the $5,200 mark per troy ounce on Friday. The move higher continues to draw support from lingering geopolitical tensions and the ongoing uncertainty surrounding US trade policy, both of which are keeping safe-haven demand firmly in play.

Bitcoin, Ethereum and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Changing the game: International implications of recent tariff developments

The Supreme Court ruling on International Emergency Economic Powers Act (IEEPA) tariffs provides limited relief for the rest of the world, with weighted average tariff rates modestly lower.

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.