⬤ The AUD/USD pair has pushed higher after finally breaking through the 0.6800 barrier that held it back during most of the previous session. The pair spent considerable time stuck near this level before buyers stepped in with enough force to drive it higher. The daily chart now shows price holding comfortably above what used to be resistance, with short-term moving averages trending upward and the overall picture looking more positive than it did just days ago.
⬤ Better-than-expected PMI data gave the Aussie dollar the fuel it needed to break out. These solid economic readings brought fresh buyers into the market and helped push AUD/USD through the 0.6800 threshold. Now that this level is behind us, traders are looking ahead to 0.6900 as the next major test. Beyond that, the 0.6960 zone becomes interesting since it lines up with the 50 percent retracement of the pair's larger decline that started back in 2021.
⬤ If the pair starts to pull back, 0.6800 should now act as a floor rather than a ceiling. The first support to watch sits slightly higher between 0.6815 and 0.6820. A bigger dip would bring 0.6775 to 0.6780 into play, an area where price previously spent time and where some technical levels cluster together. How the pair behaves around these zones will tell us whether this rally has legs or if we're headed back into choppy, sideways trading.
⬤ What happens with AUD/USD matters beyond just this one currency pair. The Aussie dollar tends to move with global growth expectations and overall market risk appetite. If price stays above 0.6800, it signals that the selling pressure from earlier has eased off. A continued push toward higher resistance levels could shift the near-term trend in a meaningful way. The support levels below give traders clear reference points to gauge whether this move is building momentum or losing steam.
