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  • AUD/USD is breaking to fresh 2020 highs. 
  • The level to beat for bulls the 0.6990 resistance. 

AUD/USD four-hour chart

AUD/USD is on the rise while trading in fresh 2020 highs as the USD selloff remains intact. The spot is hovering just below the 0.6990 resistance while above its main SMAs as the overall positive momentum prevails. However, the aussie will need a sustained break above the 0.6990 level for a potential run towards the 0.7183 resistance levels. On the other hand, a retracement down could find initial support near the 0.6834 and 0.6749 levels.

Additional key levels