AUD/USD Price Forecast: Hovers around 0.7250 near nine-day EMA support

AUD/USD may rebound toward 0.7277, the highest since June 2022.
The 14-day Relative Strength Index of 63 indicates strong upward momentum.
The pair may test the primary support at the nine-day EMA at 0.7230.

Akhtar Faruqui FXStreet

AUD/USD inches lower after registering modest gains in the previous day, trading around 0.7250 during the Asian hours on Thursday. The technical analysis of the daily chart indicates that the pair is remaining within the ascending channel, suggesting an ongoing bullish bias.

The near-term tone stays bullish as the AUD/USD pair holds above both the nine-period Exponential Moving Average (EMA) and the 50-period EMA, suggesting a constructive trend structure.

The 14-day Relative Strength Index (RSI) is around 63 points to firm but not extreme upside momentum, hinting that buyers still have the upper hand while the price approaches overhead levels.

The AUD/USD pair may retest 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 0.7480.

On the downside, the AUD/USD pair may test the immediate support at the nine-day EMA of 0.7230, aligned with the lower boundary of the ascending channel. Further declines below the channel would expose the 50-day EMA at 0.7109. A sustained 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 Canadian Dollar.

	USD	EUR	GBP	JPY	CAD	AUD	NZD	CHF
USD		-0.01%	0.06%	0.02%	0.00%	0.03%	0.00%	-0.05%
EUR	0.00%		0.05%	-0.02%	-0.00%	-0.02%	-0.03%	-0.04%
GBP	-0.06%	-0.05%		-0.04%	-0.06%	-0.05%	-0.08%	-0.07%
JPY	-0.02%	0.02%	0.04%		-0.03%	-0.01%	-0.04%	-0.09%
CAD	-0.01%	0.00%	0.06%	0.03%		0.03%	-0.02%	-0.01%
AUD	-0.03%	0.02%	0.05%	0.00%	-0.03%		-0.02%	0.00%
NZD	-0.00%	0.03%	0.08%	0.04%	0.02%	0.02%		-0.00%
CHF	0.05%	0.04%	0.07%	0.09%	0.00%	-0.00%	0.00%

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.

GBP/USD breaches below 1.3500, two-day lows

GBP/USD faces renewed selling pressure, eroding the earlier advance and slipping back to the sub-1.3500 region on Wednesday. Cable’s loss of upside momentum follows the resurgence of the demand for the Greenback amid steady geopolitical tensions. Looking ahead, the British Pound is expected to remain under scrutiny in light of the release of UK GDP data on Thursday.

EUR/USD weakens to multi-day lows near 1.1520

EUR/USD makes a U-turn and trades with decent losses near 1.1520 following the closing bell on Wall Street on Wednesday. The US Dollar’s recovery post-US CPI data keeps the risk complex under pressure in a context where geopolitics takes centre stage once again. Moving forward, attention remains on US inflation with the release of Producer Prices alongside weekly Claims.

Gold holds comfortably above $4,400 after hitting fresh 10-week highs

Gold sits above $4,400 after hitting its highest level since June 5, at $4,450, in Asia on Thursday. Gold looks to build on the uptrend, following soft US inflation data. Receding Fed-hike bets continue to drive flows towards the non-yielding bullion amid subdued US Dollar price action. However, the US-Iran standoff could limit any meaningful USD decline and cap the precious metal as traders now look to the US PPI for a fresh impetus.

Bitcoin faces thin liquidity and missing demand amid seller stress — Glassnode

Bitcoin (BTC) is showing signs of growing market exhaustion, with weakening liquidity and subdued demand leaving the market vulnerable to a sharp move, according to a Glassnode report on Wednesday. The firm stated that Bitcoin is trading between two important cost-basis levels as market activity has fallen to its lowest point since 2019.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.

Why is Crude Oil priced for a reopening the ships haven't made?

Fourteen vessels crossed the Strait of Hormuz on Tuesday. Before the war, the count ran near 120 a day. In the sessions since the waterway was publicly declared open, Brent has drifted back to $87 and West Texas Intermediate (WTI) to $81, both a little lower again on Wednesday, with daily momentum on each unwound from the top of its range in late July to the low twenties now.