Technical Analysis: AUDUSD

AUDUSD reached a two-year high

On Monday, AUDUSD continued rising. At one point, it came close to the 0.710 mark, reaching a two-year high.

The RBA increased the interest rate by 25 basis points

Last week, the RBA (Reserve Bank of Australia) increased the cash interest rate by 25 basis points to 3.85%. It raised the interest rate for the first time since 2023.

The USDX fell to a one-week low

On Monday, the USDX was weak and declined to a one-week low. It ended down 0.91% at 96.79.

The bullish market trend prevailed in the short term

the Chart of the Day

On the chart of the day, AUDUSD rose steadily in the short term. The bullish market trend prevailed. In terms of technical indicators, KDJ went upwards after golden cross occurred, showing that AUDUSD will climb further. Investors should focus on whether AUDUSD will break through the resistance at 0.715. It will rise with potential resistance at 0.720 if it breaks above 0.715.

4-hour chart

On the 4-hour chart, AUDUSD was prone to fluctuation and climbed in the short term. The bullish market trend prevailed. In terms of technical indicators, MACD went upwards after golden cross occurred, showing that the bullish market trend prevailed. Investors should focus on whether AUDUSD will break through the support at 0.705. It will climb if it retreats but is stable above 0.705.

Key resistance: 0.715,0.720

Key support: 0.705,0.700

Generally speaking, the bullish market trend prevailed in the short term. Investors could buy as AUDUSD retreats during the day.