- AUD/USD is trading off the May’s highs.
- The level to beat for bulls is the 0.6550 resistance.
AUD/USD four-hour chart
AUD/USD consolidates the recent gains while off the May’s highs. The aussie is trading just below the 0.6550 resistance and above the main SMAs while the bias remains tilted in favor of bulls in the medium-term. However, the spot will need a sustained break above the 0.6550 level for a potential retest of the May’s highs near the 0.6600 figure en route towards the 0.6700 level. On the other hand, support can emerge near the 0.6500 and 0.6480 levels.
Resistance: 0.6550, 0.6600, 0.6700
Support: 0.6500, 0.6480, 0.6400
Additional key levels