AUD/USD Transfer
The Australian Dollar (AUD) rose Monday against the US Dollar (USD) to 0.6530 matching the 2025 high in a turn of events surrounding improved trade relations between China and the US. A positive shift to sentiment boosted the AUD and risk generally with a 2-day meeting taking place today in London between US and Chinese officials to the focus on trade and export controls, with the spotlight on rare earth minerals. This week’s US CPI read is the key release with expectations that inflation in the US will rise y/y off 2.3% in May. The bear channel in the cross from mid-April remains intact with chances of a retest around the resistance point at 0.6580.
Current Level: 0.6517
Resistance: 0.6420
Support: 0.6570
Last Weeks Range: 0.6428 – 0.6537