{"@context":"https:\/\/schema.org\/","@type":"BlogPosting","@id":"https:\/\/forexschoolonline.com\/audusd-prints-minimal-recovery-above-the-0-6500-mark\/#BlogPosting","mainEntityOfPage":"https:\/\/forexschoolonline.com\/audusd-prints-minimal-recovery-above-the-0-6500-mark\/","headline":"AUDUSD Prints Minimal Recovery Above the 0.6500 Mark","name":"AUDUSD Prints Minimal Recovery Above the 0.6500 Mark","description":"The unexpected rate cuts by the PBoC had a significant impact on the AUDUSD. This is primarily due to the strong correlation between the two currencies. This caused the market to erase its one-month profit. Nevertheless, we can see that the pair is making a minimal recovery ahead of the Australian Retail Sales data. Key […]","datePublished":"2024-07-29","dateModified":"2024-07-29","author":{"@type":"Person","@id":"https:\/\/forexschoolonline.com\/author\/jonfox\/#Person","name":"Johnathon Fox","url":"https:\/\/forexschoolonline.com\/author\/jonfox\/","identifier":1,"description":"Johnathon is a Forex and Futures trader with over ten years trading experience who also acts as a mentor and coach to thousands and has written for some of the biggest finance and trading sites in the world.","image":{"@type":"ImageObject","@id":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/d0b589a007c132efe23124c05a02b68524844c0089401129bd50bc12ee59d3a9?s=96&d=monsterid&r=g","height":96,"width":96}},"publisher":{"@type":"Organization","name":"Forex School Online","logo":{"@type":"ImageObject","@id":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","url":"https:\/\/www.forexschoolonline.com\/\/wp-content\/uploads\/2018\/09\/FSO-Transparent-logo-gr.png","width":240,"height":60}},"image":{"@type":"ImageObject","@id":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/austr-dollar.jpg","url":"https:\/\/forexschoolonline.com\/wp-content\/uploads\/2022\/02\/austr-dollar.jpg","height":853,"width":1280},"url":"https:\/\/forexschoolonline.com\/audusd-prints-minimal-recovery-above-the-0-6500-mark\/","about":["AUD\/USD","Forex","FX Technical Analysis"],"wordCount":274,"keywords":["AUDUSD","Forex","Techncial Analysis"],"articleBody":"The unexpected rate cuts by the PBoC had a significant impact on the AUDUSD. This is primarily due to the strong correlation between the two currencies. This caused the market to erase its one-month profit. Nevertheless, we can see that the pair is making a minimal recovery ahead of the Australian Retail Sales data.Key Price Levels:Resistance Levels: 0.6600, 0.6700, and 0.6800Support Levels: 0.6500, 0.6400, and 0.6300AUDUSD Sees Only Minimal GainsAlthough the AUDUSD market has been on an upward path ever since its price action hit the support at the 0.6537 mark, it has only seen minimal gains. Since the price action has fallen below all the Exponential Moving Average (EMA) lines, it appears that downward forces are exerting significant pressure on upward movement.Be that as it may, the Stochastic Relative Strength Index (SRSI) lines can be seen rising steadily from deep in the oversold region. At this point, it appears that price movement may benefit from some positive Australian fundamentals.AUDUSD Lurks Around the 20-Day EMA CurveIn the AUDUSD 4-hour market, one can see that price activity has been hovering just below the 20-day EMA line. Simultaneously, we can see that the SRSI indicator lines are converging for a bullish crossover just below the 70 level of the indicator.Nevertheless, trading activity remains below all the EMA curves, and even the last price candle looks very much pressured below all the EMA curves. At this point, positive Australian Retail Sales data may assist the pair through the 20-day EMA, potentially aiding a continuation towards the 0.6600 price level.Do you want to take your trading to the next level? Join the best platform for that here."}