- Bulls failed to capitalize on the goodish intraday recovery move.
- The positive momentum falters near 100-hour SMA post-US GDP.
The AUD/USD pair managed to rebound around 35-pips from daily lows in reaction to positive trade-related headlines, albeit struggled to extend the momentum further beyond 100-hour SMA.
On the 1-hourly chart, the pair already seems to have confirmed a short-term bullish break through a descending trend-channel, which supports prospects for some intraday dip-buying interest.
However, oscillators on 4-hourly/daily charts have struggled to recover from the negative territory or gain any meaningful positive traction on the 1-hourly chart, which failed to impress bulls.
Meanwhile, a sustained move beyond 100-hour SMA resistance near mid-0.6700s is likely to accelerate the recovery move towards the 0.6780 horizontal resistance en-route the 0.6800 handle.
Immediate support is now pegged near the 0.6720 region and is followed by the 0.6700 mark, below which the pair might head back towards retesting multi-year lows – around the 0.6680-75 region.
AUD/USD 1-hourly chart
-637026832912093504.png)
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD stabilizes above 1.1350 on Easter Friday
EUR/USD enters a consolidation phase above 1.1350 on Friday as the trading action remains subdued, with major markets remaining closed in observance of the Easter Holiday. On Thursday, the European Central Bank (ECB) announced it cut key rates by 25 bps, as expected.
GBP/USD fluctuates below 1.3300, looks to post weekly gains
After setting a new multi-month high near 1.3300 earlier in the week, GBP/USD trades in a narrow band at around 1.32700 on Friday and remains on track to end the week in positive territory. Markets turn quiet on Friday as trading conditions thin out on Easter Holiday.
Gold ends week with impressive gains above $3,300
Gold retreated slightly from the all-time high it touched at $3,357 early Thursday but still gained more than 2% for the week after settling at $3,327. The uncertainty surrounding US-China trade relations caused markets to adopt a cautious stance, boosting safe-haven demand for Gold.
How SEC-Ripple case and ETF prospects could shape XRP’s future
Ripple consolidated above the pivotal $2.00 level while trading at $2.05 at the time of writing on Friday, reflecting neutral sentiment across the crypto market.
Future-proofing portfolios: A playbook for tariff and recession risks
It does seem like we will be talking tariffs for a while. And if tariffs stay — in some shape or form — even after negotiations, we’ll likely be talking about recession too. Higher input costs, persistent inflation, and tighter monetary policy are already weighing on global growth.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.