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Trevor Neal

AUD/USD

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Thank you for your question. In general, AUD/USD has been one of the most volatile pairs out there recently. Following the creation of an 18-year low in March, the Aussie has rebounded strongly to trade at the February levels. 

The price action tested the 100-DMA on Friday just below $0.6540. A break of this resistance level would pave the way for a move to $0.6670, a confluence of the 200-DMA and the horizontal resistance. The confluence usually tends to attract the price action like a magnet, hence I’d be expecting the Aussie to try to test $0.6670 before rotating lower. 
 

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