AUD/USD – Bulls Break Through Key Resistance Levels

AUD/USD climbed to a two-week high on Monday, extending gains amid a weaker dollar and renewed optimism following signals of China’s stimulus plan to boost domestic consumption.

Fresh bullish momentum has pushed the pair through the key resistance zone at 0.6353/0.6363 (100DMA / March 6 high), with a confirmed break strengthening the near-term outlook and setting the stage for a test of more significant barriers at 0.6410/0.6414 (Feb 21 high / 38.2% Fibonacci retracement of the 0.6942–0.6087 downtrend).

The technical outlook on the daily chart continues to improve, with moving averages shifting into a bullish configuration, 14-day momentum entering positive territory, and today’s breakout above the upper boundary of a consolidation triangle reinforcing positive signals.

To maintain the bullish bias, the pair must hold above the broken triangle’s upper boundary (0.6329, now turned support). A sustained break above the 0.6410/0.6414 zone would confirm a continuation of the broader recovery from 0.6087 (2024 low posted on Feb 3).

Res: 0.6330; 0.6408; 0.6414; 0.6441
Sup: 0.6329; 0.6307; 0.6295; 0.6269