The AUD/USD daily chart has just confirmed a breakout from a sustained consolidation zone that had kept price action capped for nearly two months. The breakout clears the psychological and technical resistance near the 0.6500 level and puts bulls back in control.
🔍 Key Technical Highlights:
Ascending Triangle Breakout: Price had been coiling into an ascending triangle with a horizontal resistance at 0.6500 and rising trendline support. Today's daily close above this resistance confirms the bullish breakout.
Golden Cross Support: The 50-day SMA (currently ~0.6386) has turned higher and is approaching the 200-day SMA (~0.6437), creating a potential "golden cross" that could add momentum to the uptrend.
MACD Confirmation: MACD has crossed above the signal line and is now back in positive territory, supporting the bullish bias.
RSI Momentum: RSI is rising and holding just below 60, suggesting there's still room to the upside before the pair becomes overbought.
Fibonacci Resistance Levels:
Immediate resistance is seen at the 61.8% retracement of the July–October 2024 decline near 0.6558.
Above that, the 78.6% retracement at 0.6730 becomes the next major target.
This breakout, backed by trendline support and bullish momentum signals, suggests AUD/USD could be entering a fresh impulsive leg higher.
-MW
🔍 Key Technical Highlights:
Ascending Triangle Breakout: Price had been coiling into an ascending triangle with a horizontal resistance at 0.6500 and rising trendline support. Today's daily close above this resistance confirms the bullish breakout.
Golden Cross Support: The 50-day SMA (currently ~0.6386) has turned higher and is approaching the 200-day SMA (~0.6437), creating a potential "golden cross" that could add momentum to the uptrend.
MACD Confirmation: MACD has crossed above the signal line and is now back in positive territory, supporting the bullish bias.
RSI Momentum: RSI is rising and holding just below 60, suggesting there's still room to the upside before the pair becomes overbought.
Fibonacci Resistance Levels:
Immediate resistance is seen at the 61.8% retracement of the July–October 2024 decline near 0.6558.
Above that, the 78.6% retracement at 0.6730 becomes the next major target.
This breakout, backed by trendline support and bullish momentum signals, suggests AUD/USD could be entering a fresh impulsive leg higher.
-MW
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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.
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.