AUD/USD fell sharply to a two-month low around 0.6410 after the USD strengthened significantly, driven by reduced market expectations of a Fed rate cut in September, while the RBA kept interest rates unchanged, providing no additional support for the Aussie. However, following the heavy selling pressure, the pair staged a technical rebound toward 0.6490, mainly supported by USD profit-taking, though this is not yet a signal of a sustainable bullish trend.
On the chart, the 0.6480 support level is still holding, and price is now moving toward the 0.6520 resistance zone. A breakout above this level could reinforce short-term bullish momentum and extend the recovery. Conversely, failure to break higher may lead to a pullback toward 0.6445, or even a retest of the 0.6414 low.
In the current context, this is viewed as an important technical rebound after a steep drop, but not yet enough to confirm a long-term uptrend. Traders should carefully watch the market’s reaction around the 0.6520 resistance before deciding on their next strategy.
On the chart, the 0.6480 support level is still holding, and price is now moving toward the 0.6520 resistance zone. A breakout above this level could reinforce short-term bullish momentum and extend the recovery. Conversely, failure to break higher may lead to a pullback toward 0.6445, or even a retest of the 0.6414 low.
In the current context, this is viewed as an important technical rebound after a steep drop, but not yet enough to confirm a long-term uptrend. Traders should carefully watch the market’s reaction around the 0.6520 resistance before deciding on their next strategy.
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Top trading opportunities are waiting for you! : t.me/+TaRRH29IRysyNGJl
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🔥 High-quality signals – Win rate up to 85%
📍 Accurate, verified technical analysis
⚡ Fast updates – Never miss a golden entry
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.