AUD – The Australian dollar remains stable amid divergent US and Australian policy outlooks

As seen on the technical chart, the MACD indicator has just broken above its signal line, suggesting the Australian dollar could continue its slow upward trend from last week. The 100-day moving average is currently at 0.6490, serving as initial support.The major support lies at the 200-day moving average at 0.6380, followed by the 0.6280 and 0.62 levels. Resistance lies at the 50-month moving average at 0.6730 and 0.68. Medium-term resistance lies at last September's high of 0.6942, further towards the 0.70 level.

Forecast range:
Resistance: 0.6730 – 0.6800 – 0.6942 – 0.7000
Support: 0.6490 – 0.6380 – 0.6280 – 0.6200

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