AUDUSD Recovers Toward Session Highs Around 0.6462 Level After a Positive Data Release


AUDUSD Price Analysis – May 7

AUDUSD continues reversal from recent lows thereby pushing buyers close to 0.6462 level, up 1.00 percent on the day, into European session on Thursday from the Asian Session. Figures from the Aussie market were the new impetus for the pair’s U-turn following risk-off sentiments. With Australia expected to reopen its economy from Friday, the AUD will continue to grow.

Key Levels
Resistance Levels: 0.7031, 0.6878, 0.6569
Support Levels: 0.6434, 0.5959, 0.5506

AUDUSD Long term Trend: Ranging

A convergence of moving average 5 and 13 near 0.6434 level limits the further downside of the pair, a breach of these can pull the FX spot to April 21 low close to 0.6265. On the opposite, the high moving average of 5 close to 0.6462 level and April month high near to 0.6569 level may further restrict the pair’s near-term upside.

With no definite indication of trend reversal yet in the larger context. The broader downward trend from level 1.1079 (high) level still supports extending. Projections of 1.1079 to 0.6878 from 0.8135 to 0.5506  levels are already met at 61.8 percent. There might be a prolonged break opening the way towards the level at 0.4773 (low).

AUDUSD Short term Trend: Bullish

At this level, the intraday bias in AUDUSD holds steady. We might also foresee a decline to stretch lower from 0.6569 short term high level. On the contrary, the initial goal is 0.6265 support level beneath 0.6352 marks.

A breakdown would most suggest the conclusion of the entire increase from level 0.5506 and aim a 38.2 percent retraction of 0.5506 to 0.6569 at levels 0.6213. In the upside, a breach of 0.6569 level would then accelerate the recovery to 0.6684 main resistance level.

Note: is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing results


  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$100 Min Deposit
  • Trade top Cryptos such as Bitcoin, Litecoin and Ethereum plus more
  • Zero commissions and no bank fees on transactions
  • Around the clock service with support in 14 languages
$100 Min Deposit
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.