- AUD/USD ends week down 0.33%, not able to hold above 0.6600, range-bound.
- Battle to sustain gains above 200-DMA (0.6576 ); capacity for upward pattern viewed carefully.
- Secret supports at 0.6551, 0.6524; rebound above 200-DMA might go for resistances at 0.6620, 0.6652.
The AUD/USD ended up Friday’s session on the back foot, down more than 0.15%, for an overall of 0.33% losses in the week. At the time of composing, the set ended at 0.6573, stopping working to remain above the 0.6600 figure, which worsened the Aussie’s drop listed below the crucial 200-day moving average (DMA).
The set extended its sideways trading, with purchasers stopping working to hold on to the 200-DMA at 0.6576, though it appears they stay in charge. This following January’s 17 dip towards 0.6524, with the par extending its gains towards the 0.6550/ 0.6600 variety, still not able to decisively break the 0.6600 mark and unlocking for a draw back.
With that stated, crucial assistance levels lie listed below the currency exchange rate, with the January 23 daily low of 0.6551, ahead of the January 17 swing low of 0.6524. if the set moves listed below this essential assistance level, the purchasers’ last line of defense would be the 0.6500 figure before diving to the November 17, 2023, low of 0.6452.
On the favorable side, if purchasers recover the 200-DMA, they might extend its rally past the 0.6600 figure towards January’s 24 high at 0.6620. The next supply zone emerges at the 50-DMA at 0.6652.
AUD/USD Price Action– Daily Chart
AUD/USD Key Levels
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