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AUD/USD Breakout Watch – Can Momentum Drive More Gains?

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Aayush Jindal

Key Highlights

  • AUD/USD started a fresh rally from the 0.6500 region.
  • A key bullish trend line is forming with support at 0.6540 on the 4-hour chart.
  • Gold surged further to a new all-time high above $3,660.
  • EUR/USD could aim for a move toward 1.1850 or even 1.1880.

AUD/USD Technical Analysis

The Aussie Dollar remained supported above 0.6500 and started a fresh increase against the US Dollar. AUD/USD rallied above 0.6550 and 0.6580 to enter a positive zone.

Looking at the 4-hour chart, the pair settled above the 100 simple moving average (red, 4-hour) and the 200 simple moving average (green, 4-hour). The pair even spiked above 0.6615 before it faced some resistance.

On the upside, the pair could face resistance near the 0.6620 level. The first major hurdle for the bulls could be 0.6640. A close above 0.6640 could set the pace for another increase. In the stated case, the pair could rise toward 0.6720, above which the bulls could aim for a move toward 0.6850.

Any more upsides could send the pair toward 0.6900. On the downside, immediate support is 0.6575. The next key area of interest might be 0.6550. There is also a major bullish trend line forming with support at 0.6540 on the same chart.

The trend line is close to the 61.8% Fib retracement level of the upward move from the 0.6501 swing low to the 0.6619 high. Any more losses could send the pair toward 0.6510 and the 100 simple moving average (red, 4-hour).

Looking at Gold, the bulls remain in action as they were able to push the price to a new all-time high above $3,660.

Upcoming Key Economic Events:

  • US Producer Price Index for August 2025 (MoM) – Forecast +0.3%, versus +0.9% previous.
  • US Producer Price Index for August 2025 (YoY) – Forecast +3.3%, versus +3.3% previous.
  • US Wholesale Inventories for July 2025 (preliminary) – Forecast +0.2%, versus +0.2% previous.
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