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AudTechnical AnalysisUSD

AUD/USD Price Forecast: Tests nine-day EMA after breaking above 0.6900

  • AUD/USD may find the initial support at the 11-week low of 0.6833.
  • The 14-day Relative Strength Index hovers near 43, suggesting mild bullish pressure.
  • The pair tests the immediate barrier at the nine-day EMA of 0.6918.

AUD/USD holds gains after two days of losses, trading around 0.6910 during the Asian hours on Monday. The technical analysis of the daily chart indicates that the pair remains within a descending wedge pattern, suggesting that selling pressure is gradually weakening as lower highs and lower lows converge. This structure often reflects a loss of bearish momentum, increasing the likelihood of a bullish breakout.

However, the 14-day Relative Strength Index (RSI) is around 43, suggesting a bearish bias, with momentum slipping below the midline after failing to sustain earlier strength. Moreover, the near-term bias is bearish as the AUD/USD pair holds below the nine-day Exponential Moving Average (EMA) and the flatter 50-day EMA.

The initial support lies at the 11-week low of 0.6833, which was recorded on March 30, followed by the lower boundary of the descending wedge around 0.6810. A break below the wedge would strengthen the bearish bias and open the doors for the AUD/USD pair to navigate the region around a deeper 0.6400 rebound support zone.

The AUD/USD pair could find the immediate barrier at the nine-day EMA of 0.6918, followed by the 50-day EMA at 0.6958 around the upper boundary of the wedge. A sustained break above this confluence resistance zone would lead the pair to test the 0.7187, the highest since June 2022, reached on March 11.

AUD/USD: Daily Chart

(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 strongest against the Swiss Franc.

USDEURGBPJPYCADAUDNZDCHF
USD-0.02%-0.09%-0.05%-0.05%-0.15%-0.14%0.09%
EUR0.02%-0.04%-0.06%0.00%-0.14%-0.14%0.09%
GBP0.09%0.04%-0.02%-0.00%-0.09%-0.10%0.16%
JPY0.05%0.06%0.02%0.02%-0.11%-0.11%0.13%
CAD0.05%-0.00%0.00%-0.02%-0.10%-0.10%0.14%
AUD0.15%0.14%0.09%0.11%0.10%-0.01%0.24%
NZD0.14%0.14%0.10%0.11%0.10%0.01%0.26%
CHF-0.09%-0.09%-0.16%-0.13%-0.14%-0.24%-0.26%

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).

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