AUD - Australian dollar continues to rise, helped by recovery in risk appetite

In Australia, market participants are paying attention to Australian retail sales data released on Tuesday. Swaps suggest there is a 50% chance the RBA will raise interest rates again before September. In terms of technical trends, the Australian dollar has been rising against the U.S. dollar for days. The chart shows that the RSI and stochastic index are now in the overbought zone, which may indicate that the upward momentum will slow down. The estimated support is 0.6480 and 0.6430, with the next level looking at 0.64 and the low of 0.6268 on October 26 last year. The resistance level is estimated to be 0.6560, the 250-day moving average, and the greatest resistance is seen at 0.6650 and 0.68 levels.

Forecast range:
Resistance 0.6560 – 0.6650 – 0.6800
Support 0.6480 – 0.6430 – 0.6400 – 0.6268

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