AUD – Australian dollar continues to move sideways

The Australian dollar was clearly trading sideways in a narrow range against the U.S. dollar last week, and it is expected that the Australian dollar will continue to consolidate in the short term. The nearest support is estimated at 0.6250 and 0.6180, and the key focus will be on the February 3 low of 0.6085 and even the 0.60. The current upper resistance is expected to be 0.6310 and 0.64, and the next reference level is the 250-day moving average of 0.6530 and 0.66.

Forecast range:
Resistance 0.6310 – 0.6400 - 0.6530 – 0.6600
Support 0.6250 - 0.6180 - 0.6085 – 0.6000**
 

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