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5 May 2020
AUD/USD Price Analysis: Aussie holds above 0.6400 figure, bullish
- AUD/USD bullish recovery from mid-March remains intact.
- The level to beat for bulls is the 0.6500 resistance.
AUD/USD four-hour chart
The bullish recovery from mid-March stays intact as AUD/USD is printing higher highs and lows. The spot is also trading above the 100 and 200 SMAs on the four-hour chart confirming the bullish bias. The spot should break the 0.6500 resistance en route toward the April’s highs near 0.6570. After that, the next main resistance is seen near the 0.6700 figure. Occasional dips should find support near the 0.6400/0.6375 support zone.
Resistance: 0.6500, 0.6570, 0.6700
Support: 0.6400, 0.6375, 0.6300
Additional key levels