- AUD / USD is trading near its highest level since early January 2020.
- The level to beat for bulls is the resistance of 0.6990.
AUD / USD four-hour chart
AUD / USD reaches new highs over 5 months while liquidation in USD remains unchanged. The Aussie is trading just below the resistance of 0.6990 and above its main SMA while the market capitalizes on the upward momentum. However, the quote will need a clear break above the level of 0.6990 for a potential run towards the resistance levels of 0.7183. On the other hand, support can emerge near the levels of 0.6834 and 0.6749.