AUD/USD Price Analysis: Aussie trades in weekly highs, approaching 0.6100 figure

  • AUD/USD is rebounding from multi-year lows. 
  • The level to beat for bulls is the 0.6100 figure.

AUD/USD daily chart

AUD/USD is gaining ground while rebounding from multi-year lows. As DXY is losing steam, equity markets and gold are rebounding, AUD/USD is retracing parts of its steep decline.

AUD/USD four-hour chart

AUD/USD is rebounding while trading above the 0.6000 handle and the 50 SMA on the four-hour chart. As bulls are gathering steam a break beyond the 0.61000 figure would likely attract further speculative interest for a potential extension to the 0.6200 and 0.6300 figures. Support can be expected near 0.6000, 0.5900 and 0.5800 figures. 

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