FX.co ★ AUD/USD H4 | Rising into resistance

The AUD/USD chart is currently indicating potential signs of a bullish momentum, as it approaches a key resistance level.

Resistance Levels:

The 1st resistance at 0.6818 is categorized as a "Swing-high Resistance" indicating its potential to hinder upward price movements. Beyond this, the 2nd resistance level at 0.6893 is also identified as "Multi-swing-high Resistance" emphasizing its role as a substantial barrier to further advances.

Support Levels:

On the support side, the 1st support at 0.6732 is recognized as an "Overlap Support". This level suggests a zone where buying interest may emerge, potentially providing some support to the price. Additionally, the 2nd support at 0.6673 is characterized by an "Overlap Support", reinforcing its significance as a substantial support zone.