AUDUSD Chart Technical Outlook set to rise toward 0.6545 after edging above 4h-50 SMA, on an upbeat market mood.
The Australian Dollar rises and falls with stock markets – and NVidia shows that the future is bright, at least when considering AI opportunities. That may continue supporting stocks, and in turn, the Aussie.
What about US data? Strong expectations for weekly jobless claims already exist, and it seems that the only possible surprise would be a disappointment. I expect some pressure on the US dollar today, which is part of the ongoing correction.
AUD/USD has surpassed the 4h-50 SMA, a sign of strength. Resistance is at 0.6545, the recent high, then 0.6596. Support is at 0.6481, then 0.6458.
