XM does not provide services to residents of the United States of America.

Technical Analysis – AUDUSD tests the 200-day SMA after rebound off 0.6560



AUDUSD rebounded off the 0.6560 support level and is heading towards the 200-day simple moving average (SMA), which stands near 0.6755. The bulls may be optimistic for more upside movements as the MACD is heading north above its trigger line in the negative region and the RSI is crossing the 50 level to the upside.

In the positive scenario, in case of a successful climb above the 200-day SMA, then the market may challenge the 50-day SMA around the 0.6857 resistance. More gains could lead the market towards the 0.7030 resistance ahead of the long-term descending trend line around 0.7070.

On the other hand, a dive below the 20-day SMA could endorse the bearish structure that started from the pullback off the eight-month peak at 0.7160 and hit the 0.6560 barrier. Steeper declines could open the way until the 0.6385 support.

In brief, despite its resilience above 0.6560, AUDUSD has yet to show any clear bullish signals, remaining exposed to downside corrections in the medium-term outlook.

Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.

All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.

Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.

Risk Warning: Your capital is at risk. Leveraged products may not be suitable for everyone. Please consider our Risk Disclosure.