Technical Analysis: AUDUSD

AUDUSD rose to a one-week high

On Wednesday, AUDUSD climbed for the second straight trading day, and broke above the 0.650 mark to the highest level since 18^th August.

Australian CPI exceeded expectations in July

Australian CPI increased by 2.8% year on year in July, which was higher than the forecast of 2.3% and marked the highest level since July 2024, according to the data from the Australian Bureau of Statistics.

The USDX climbed and then fell

On Wednesday, the USDX climbed and then fell. It ended down 0.06% at 98.147.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, AUDUSD rose steadily. The bullish market trend prevailed in the short term. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that AUDUSD will climb further. Investors should focus on whether AUDUSD will break through the resistance at 0.657. It will jump with potential resistance at 0.662 if it breaks above 0.657.

4-hour chart

On the 4-hour chart, AUDUSD was prone to fluctuation and climbed. The bullish market trend prevailed in the short term. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that the market trend is bullish. Investors should focus on whether AUDUSD will break through the support at 0.650. It will jump if it retreats but is stable above 0.650.

Key resistance: 0.657,0.662

Key support: 0.650，0.646

Generally speaking, the bullish market trend prevailed in the short term. Investors should focus on US economic data during the day.