FX.co ★ AUD/USD outlook for April 13, 2023

AUD/USD has been developing an upward trend for the third day in a row, moving towards key resistance levels 0.6780 (144 EMA on the daily chart), 0.6810 (200 EMA on the daily chart), 0.6840 (50 EMA on the weekly chart).

The breakout of these resistance levels will allow the pair to continue rising towards the key resistance levels 0.7040 (144 EMA on the weekly chart), 0.7110 (200 EMA on the weekly chart), separating the long-term bull market from the bear market.

At least the technical indicators OsMA and Stochastic on the daily and weekly charts are on the buyers' side.

In an alternative scenario, there will be a rebound in the zone of resistance levels 0.6780, 0.6810, 0.6840, and a breakdown of support levels 0.6712 (200 EMA on the 4-hour chart), 0.6685 (200 EMA on the 1-hour chart) will return the bearish mood to the pair. A breakdown of the local support level 0.6570 will finally revive bearish sentiment for AUD/USD.

Support levels: 0.6712, 0.6685, 0.6635, 0.6600, 0.6570, 0.6500, 0.6455, 0.6390, 0.6285, 0.6200, 0.6170

Resistance levels: 0.6730, 0.6780, 0.6800, 0.6810, 0.6840, 0.6900, 0.6920, 0.7040, 0.7110