AUD/USD Price Forecast: Eyes nine-day EMA support near 0.7200

AUD/USD may test the 0.7277, the highest since June 2022.
The 14-day Relative Strength Index of 60 indicates resilient bullish momentum without reaching overbought territory.
Initial support lies at the nine-day EMA at 0.7214.

Akhtar Faruqui FXStreet

AUD/USD loses ground after two days of gains, trading around 0.7240 during the Asian hours on Tuesday. The technical analysis of the daily chart indicates that the pair is moving upwards within the ascending channel, suggesting an ongoing bullish bias.

The AUD/USD pair holds a constructive bullish bias as it stays above both the nine-period and 50-period Exponential Moving Averages (EMAs). This positioning suggests the broader uptrend remains supported.

The 14-day Relative Strength Index (RSI) is around 60 points to firm but not overextended upside momentum, keeping buyers in near-term control as long as the price defends these moving average floors.

The AUD/USD pair may test the 0.7277, the highest since June 2022, recorded on May 6. A successful break above this level would support the pair to target the upper boundary of the ascending channel around 0.7460.

On the downside, the AUD/USD pair may test the nine-day EMA at 0.7214, followed by the lower boundary of the ascending channel around 0.7200. Further declines would expose the 50-day EMA at 0.7096. A break below the medium-term average would cause the bearish emergence and put downward pressure on the AUD/USD pair to navigate the region around the three-month low of 0.6833, which was recorded on March 30.

(The technical analysis of this story was written with the help of an AI tool.)

Australian Dollar Price Today

The table below shows the percentage change of Australian Dollar (AUD) against listed major currencies today. Australian Dollar was the weakest against the US Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		0.16%	0.14%	0.17%	0.09%	0.20%	0.14%	0.16%
EUR	-0.16%		-0.03%	0.02%	-0.10%	0.05%	-0.04%	0.01%
GBP	-0.14%	0.03%		0.02%	-0.09%	0.05%	-0.02%	0.02%
JPY	-0.17%	-0.02%	-0.02%		-0.11%	0.00%	-0.05%	-0.03%
CAD	-0.09%	0.10%	0.09%	0.11%		0.12%	0.06%	0.08%
AUD	-0.20%	-0.05%	-0.05%	-0.00%	-0.12%		-0.06%	-0.04%
NZD	-0.14%	0.04%	0.02%	0.05%	-0.06%	0.06%		0.02%
CHF	-0.16%	-0.01%	-0.02%	0.03%	-0.08%	0.04%	-0.02%

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent AUD (base)/USD (quote).

Author

Akhtar Faruqui

FXStreet

Akhtar Faruqui is a Forex Analyst based in New Delhi, India. With a keen eye for market trends and a passion for dissecting complex financial dynamics, he is dedicated to delivering accurate and insightful Forex news and analysis.

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