The Australian Dollar (AUD) is projected to trade within the range of 0.6355 to 0.6400. In the longer term, it may advance further, with a potential target of 0.6455.
Recently, after reaching a peak of 0.6409, AUD saw a corrective pullback. Today, it is anticipated that AUD will remain within the stated range.
Since early this month, a positive outlook for AUD has been maintained. A breach below 0.6345 could indicate that the Australian Dollar is not prepared to reach the 0.6455 target.
The Australian Dollar has been trending in a relatively narrow range, finding resistance around 0.6400. After hitting 0.6409 and failing to hold, we saw a natural retreat. This suggests that while there’s optimism, the momentum needed to push much higher hasn’t materialised yet.
For traders watching short-term support levels, 0.6345 is the key figure. Dropping below this would raise questions about whether the recent uptrend still has strength. Until that happens, the broader view remains unchanged.
What comes next depends on whether the currency can regain upward traction. If it keeps testing the upper boundary near 0.6400 and eventually forces a breakout, then 0.6455 becomes a realistic goal. Otherwise, continued hesitation near resistance could signal exhaustion.
Price action in the coming days will determine whether staying long remains the best approach or if it’s time to consider alternative positions. A conservative strategy may involve waiting for confirmation: either through stronger momentum above 0.6409 or a breakdown below 0.6345. Until then, we’ll keep an eye on how the range holds and whether sentiment shifts.
