AUDUSD Analysis: Sideways Move Continues, Resistance and Support Levels
The AUDUSD pair has been moving sideways within a trading range between 0.6521 and 0.6594.
As long as the 0.6521 support level holds, the pullback from 0.6594 could be seen as corrective consolidation for the uptrend from 0.6442. Another rise is still possible after the consolidation.
The initial resistance level is located at 0.6555. A breakthrough of this level could trigger another rise to test the 0.6594 resistance level. A breakthrough of this level would aim for the 0.6624 resistance level.
On the downside, a breakdown below the 0.6521 support level would indicate that the upside move has already completed at 0.6594. In this case, another fall towards the 0.6442 previous low could be seen.