AUDUSD Technical Analysis – May 25, 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 0.77513, multiple resistance levels can be seen above which may prevent the price from rising further.

  • Resistance level 1: 0.77630
  • Resistance level 2: 0.77800
  • Resistance level 3: 0.78050

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

The United States will announce the March housing rice growth index on Tuesday. Higher data will indicate favorable to the US dollar, so it is negative for the AUSUSD currency pair, and vice versa.

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