AUDUSD pushes larger and checks key resistance zone close to 2025 highs

The AUDUSD has been on a powerful run larger and is now urgent up in opposition to a essential resistance zone outlined by a number of technical limitations. The pair is at present testing the double prime highs close to zero.6390, final seen in March and early April, and edging nearer to the 2025 excessive of zero.6407.

This space presents a serious check for patrons. A break above zero.6407 would open the door for a broader bullish extension, probably focusing on the zero.6427 space which begins with the 50% midpoint of the transfer down from the September 2024 excessive. Above that may be a swing space as much as zero.6444.

The upside push has been supported by a clear break above the cluster of transferring averages, together with the 100-bar MA on the Four-hour chart, 200-bar MA, and 100-day MA (at zero.62907 at present). The 100 day MA was damaged on March 17 and once more on April 2 and April three however every failed and rotated again decrease. Staying above the 100-day MA at zero.62907 is required to maintain the patrons in agency management.

If patrons can push by way of the zero.6390 after which zero.6407 excessive, it could verify a powerful shift in technical management. On the draw back, any failure right here might see a retreat towards the zero.6340–zero.6320 swing space assist area, forward of the 100 day MA.

For now, momentum is with the bulls—however the battle on the prime is simply starting.

This text was written by Emma Wang at www.ubaidahsan.com.



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