- AUD/USD pulls back on USD strength at the start of the week.
- However, AUD/USD bullish recovery stays intact as the market prints higher highs and lows.
- The level to beat for bulls is the 0.6450 resistance.
AUD/USD four-hour chart
AUD/USD pulled back down to the 0.6400 figure near the 50 and 100 SMAs on the four-hour chart. The bullish recovery started mid-March remains intact as the market is making higher highs and lows. Therefore buyers will be looking for a break above the 0.6450 resistance en route towards the 0.6500 figure and then the 0.6570 level (April high). Support is expected to hold near the 0.6400 figure in the medium-term.
Resistance: 0.6450, 0.6500, 0.6570
Support: 0.6400, 0.6300, 0.6200
Additional key levels