AUD/USD has hit new highs over vaccine hopes but lost ground amid geopolitical concerns. Late May’s daily chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “AUD/USD is trading within an uptrend channel, formed around the end of April. While upside momentum on the daily chart has waned, the currency pair has topped the 100-day SMA. It remains below the 200-day SMA but above the 50-day one.” “Some resistance awaits at 0.6560, which held AUD/USD down in mid-May. It is followed by 0.6610, the peak this month, and then by 0.6680.” “Support awaits at 0.65, which is a psychologically significant level and nearly converges with the 100-day SMA. Below the uptrend support line, the next cushion is at 0.6375, which is a double-top from early May.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next GBP/USD: Bears are at the helm FX Street 3 years AUD/USD has hit new highs over vaccine hopes but lost ground amid geopolitical concerns. Late May's daily chart is painting a mixed picture, Yohay Elam, an analyst at FXStreet, reports. Key quotes “AUD/USD is trading within an uptrend channel, formed around the end of April. While upside momentum on the daily chart has waned, the currency pair has topped the 100-day SMA. It remains below the 200-day SMA but above the 50-day one.” “Some resistance awaits at 0.6560, which held AUD/USD down in mid-May. It is followed by 0.6610, the peak this month, and then by 0.6680.” “Support awaits at… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
