- The AUD/USD price may appreciate further as the daily chart analysis indicates a bullish bias.
- The 50-day EMA at 0.6613 and the lower boundary around 0.6590 seem to be immediate support levels for the pair.
- A cross of the 9-day EMA above the 50-day EMA could provide a buying opportunity.
The AUD/USD pair is recovering its recent losses from the previous session, trading around 0.6620 during the European hours on Thursday. The daily chart analysis indicates that the AUD/USD pair is positioned within an ascending channel, which suggests a bullish bias.
Additionally, the 14-day Relative Strength Index (RSI) is positioned slightly above the 50 level, confirming the strengthening of bullish momentum.
In terms of support, the 50-day exponential moving average (EMA) at the level of 0.6613 appears as an immediate support level for the AUD/USD pair, followed by the lower boundary of the ascending channel around the level of 0.6590, aligned with the nine-day EMA at the level of 0.6587.
A break below the ascending channel could signal a bearish bias, potentially leading the AUD/USD pair to test the retracement level at 0.6575. If the pair falls below this support level, it could strengthen the bearish outlook and lead it towards the next retracement level at 0.6470.
The daily chart analysis indicates that the 9-day EMA could cross above the 50-day EMA. This potential crossover would suggest that price momentum is overtaking the long-term trend, which could signal an opportunity to buy the AUD/USD pair.
On the upside, the AUD/USD pair could approach the upper boundary of the ascending channel near the 0.6700 level. A break above this level could lead the pair towards its six-month high of 0.6798, reached on July 11.
AUD/USD: Daily Chart
Australian Dollar PRICE Today
The table below shows the Australian Dollar (AUD) exchange rate against major currencies today. Australian Dollar was the strongest currency against the Swiss Franc.
| USD | EUR | GBP | JPY | CAD | AUD | NZD | CHF | |
|---|---|---|---|---|---|---|---|---|
| USD | 0.05% | -0.12% | -0.04% | -0.06% | -0.27% | 0.08% | 0.01% | |
| EUR | -0.05% | -0.18% | -0.11% | -0.10% | -0.41% | -0.14% | -0.04% | |
| GBP | 0.12% | 0.18% | 0.09% | 0.07% | -0.23% | 0.04% | 0.24% | |
| JPY | 0.04% | 0.11% | -0.09% | -0.03% | -0.26% | -0.03% | 0.14% | |
| CAD | 0.06% | 0.10% | -0.07% | 0.03% | -0.22% | -0.03% | 0.16% | |
| AUD | 0.27% | 0.41% | 0.23% | 0.26% | 0.22% | 0.26% | 0.45% | |
| NZD | -0.08% | 0.14% | -0.04% | 0.03% | 0.03% | -0.26% | 0.19% | |
| CHF | -0.01% | 0.04% | -0.24% | -0.14% | -0.16% | -0.45% | -0.19% |
The heatmap shows percentage changes of major currencies. The base currency is selected from the left column, while the quote currency is selected from the top row. For example, if you choose the Australian Dollar from the left column and move along the horizontal line to the US Dollar, the percentage change shown in the chart will represent the AUD (base)/USD (quote).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
