AUD/USD Price Analysis: Aussie consolidates gains, holds above 0.6300 figure

 

 

 

AUD/USD bullish recovery stays intact despite the spot is trading off one-month highs while challenging the 0.6300 figure and rejecting the 50 SMA on the daily time frame.

 

 

 

AUD/USD is trading above the main SMAs on the four-hour chart suggesting a bullish bias in the medium term. The spot is consolidating the recent advance while holding above the 0.6300 level and the 50 SMA. The bullish recovery remains in place as the market is making higher highs and lows. Bulls would be looking to extend gains especially on a break above the 0.6450/0.6500 resistance zone en route towards the 0.6600 figure. Support is expected to hold near 0.6260 and 0.6200 price levels.