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AUD: Bullish Break of 100-dma Would be First in Over 6 Months

AUD
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Despite the greenback recovering off lows against most others in G10, AUD/USD is still well bid - pushing the pair to a new daily high through the London close. This narrows the gap with 0.6409 - the bull trigger.

  • Firmer commodity prices have given the currency the last leg higher, as Trump's more aggressive language on Iran underpinned the oil rally. Another factor making today's break higher in AUD/USD notable is the rally (and likely close) above the 100-dma at 0.6347. This level held well and contained price action back in late February as well as during the sell-off in November of 2024 - a confirmed break and close above this week would be the first since over six months.
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Despite the greenback recovering off lows against most others in G10, AUD/USD is still well bid - pushing the pair to a new daily high through the London close. This narrows the gap with 0.6409 - the bull trigger.

  • Firmer commodity prices have given the currency the last leg higher, as Trump's more aggressive language on Iran underpinned the oil rally. Another factor making today's break higher in AUD/USD notable is the rally (and likely close) above the 100-dma at 0.6347. This level held well and contained price action back in late February as well as during the sell-off in November of 2024 - a confirmed break and close above this week would be the first since over six months.