Will AUD/USD rise further to 0.6585?

AUD/USD rises further to 0.6585 so far as rally from 0.6269 continues today. Intraday bias stays on the upside at this point. Current development argues that whole decline from 0.7156 has completed with three waves down to 0.6269. Further rally should be seen to falling channel resistance (now at 0.6676) next.

What are the Daily pivots in AUD/USD?

Daily Pivots: (S1) 0.6559; (P) 0.6576; (R1) 0.6601; More… Intraday bias in AUD/USD remains on the upside for the moment. Current rally from 0.6269 should extend to channel resistance (now at 0.6665). Sustained break there will pave the way to 0.6894 resistance next.

What does AUD/USD mean?

The result is a price corridor, usually enveloping the weekly close price from above and below, and serves as a measure of volatility. The AUD/USD pair tells the trader how many US dollars (the quote currency) are needed to purchase one Australian dollar (the base currency). This currency pair is also known as the "Aussie".

What's going on with AUDUSD in 2023?

Don't miss our 2023 AUDUSD forecast! The Australian Dollar is facing headwinds yet again against the US Dollar, as the central bank divergence theme is back in play in early 2023.