AUD/USD: May be able to test 0.6410 – UOB Group

Source Fxstreet

Strong momentum suggests Australian Dollar (AUD) could test 0.6410 vs US Dollar (USD); it is unclear if it can break clearly above this level for now. In the longer run, chance for AUD to break above 0.6410; a break of this significant resistance level could potentially trigger a rapid rise, UOB Group's FX analysts Quek Ser Leang and Peter Chia note. 

Chance for AUD to break above 0.6410

24-HOUR VIEW: "While we expected AUD to 'rise further' yesterday, we indicated that it 'does not seem to have enough momentum to test the major resistance at 0.6385.' We underestimated the upward momentum, as AUD rose to 0.6391. Strong momentum suggests AUD could test 0.6410 today. Due to the deeply overbought conditions, it is unclear whether AUD can break clearly above this level. To maintain the strong momentum, AUD must hold above 0.6350 (minor support is at 0.6365)." 

1-3 WEEKS VIEW: "We have expected AUD to trade in a range since early last week. In our most recent narrative from last Thursday (12 Mar, spot at 0.6325), we highlighted that 'the slightly firm underlying tone suggests a higher range of 0.6245/0.6385.' Yesterday, AUD rose sharply and reached a high of 0.6391. The breach of 0.6385 is accompanied by strong upward momentum, and there is a chance for AUD to break above 0.6410. The chance of AUD breaking above 0.6410 will remain intact as long as the ‘strong support’ level, currently at 0.6320, is not breached. Note that 0.6410 is a significant resistance, and a clear break above this level could potentially trigger a sharp and rapid rise. The next resistance level above 0.6410 is 0.6450."

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Bitcoin Price Bounces Back—Can It Finally Break Resistance?Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
Author  NewsBTC
Apr 02, Wed
Bitcoin price started a recovery wave above the $83,500 zone. BTC is now consolidating and might struggle to settle above the $85,500 zone. Bitcoin started a decent recovery wave above the $83,500
placeholder
U.S. March Nonfarm Payroll Preview: Even If Data Aligns with Expectations, Financial Markets May Not Escape the Fate of VolatilityOn 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
Author  TradingKey
Apr 02, Wed
On 4 April 2025, the United States will release its March Nonfarm Payrolls (NFP) data. The market consensus currently anticipates job growth of 128,000, a decline from February’s 151,000 (Figure 1). W
placeholder
Japanese Yen spikes to multi-week high against USD after Trump’s tariffs announcementThe Japanese Yen (JPY) jumped to a three-week top against its American counterpart during the Asian session on Thursday after US President Donald Trump imposed sweeping trade tariffs.
Author  FXStreet
Yesterday 02: 36
The Japanese Yen (JPY) jumped to a three-week top against its American counterpart during the Asian session on Thursday after US President Donald Trump imposed sweeping trade tariffs.
placeholder
Bitcoin price reacts as Gold sets fresh record highs after Trump’s reciprocal tariffs announcementBitcoin price plunges towards $82,000 as Gold soars past $3,150 after US President Donald Trump imposed new tariffs on Israel and UK, triggering global markets turbulence.
Author  FXStreet
Yesterday 02: 38
Bitcoin price plunges towards $82,000 as Gold soars past $3,150 after US President Donald Trump imposed new tariffs on Israel and UK, triggering global markets turbulence.
placeholder
Bitcoin Price Forecast: Tariff volatility sweeps over $200 billion from crypto marketsBitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
Author  FXStreet
17 hours ago
Bitcoin (BTC) price hovers around $83,000 at the time of writing on Thursday after it failed to close above a critical resistance level the previous day.
Related Instrument
goTop
quote