AUDUSD Technical Analysis – June 8, 2021

AUDUSD rose on Monday, and the technical bias is bullish due to higher highs in the recent uptrend.

The pair is currently trading near 0.77633, multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 0.77720
  • Resistance level 2: 0.77830
  • Resistance level 3: 0.77950

Below the price, multiple support levels can be seen which may prevent the price from falling.

  • Support level 1: 0.77450
  • Support level 2: 0.77300
  • Support level 3: 0.77150

Australia will announce the Westpac Consumer Confidence Index data this Wednesday. Higher data will indicate favorable to the Australian Dollar, so the AUDUSD pair is bullish, and vice versa.

Looking at the current price trend and economic development, it may be a good trading choice to buy the AUDUSD pair near the current level.