Hurdles 200-DMA and turns bullish, eyeing 0.6600

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<li><strong>AUD/USD gains 0.34% on positive sentiment, defying a negative housing market report impact.</strong></li>
<li><strong>Neutral bias with an upside tilt; breach of 200-DMA at 0.6579 may target 0.6600 and 0.6639.</strong></li>
<li><strong>Downside risks include 200-DMA at 0.6579 and the January 17 low of 0.6523 before testing 0.6500.</strong></li>
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<p>The Australian Dollar (AUD) registers solid gains from the <a href="https://www.fxstreet.com/currencies/us-dollar-index">US Dollar</a> (USD) amid an upbeat market mood following the release of an improvement in consumer sentiment and a bad housing market report. At the time of writing, the AUD/USD exchanges hands at 0.6373, gains 0.34%.</p>
<p>The daily chart portrays the pair as neutral biased, though tilted to the upside, after breaking above the 200-day moving average (DMA) at 0.6579. Further upside is seen at 0.6600, followed by the 50-day moving average (DMA) at 0.6639. Once surpassed, the next stop would be the January 12 cycle high at turned resistance at 0.6728.</p>
<p>For a bearish resumption, AUD/USD first support would be the 200-DMA at 0.6579, followed by the January 17 daily low of 0.6523. A drop below that level, and sellers could challenge the 0.6500 figure</p>
<h2>AUD/USD Price Action – Daily Chart</h2>
<p><a href="https://editorial.fxstreet.com/miscelaneous/image-638413023035480806.png" target="_blank" rel="noopener"><img decoding="async" src="https://editorial.fxstreet.com/miscelaneous/image-638413023035480806.png" style="width: 1781;height: 855;" /></a></p>
<h2>AUD/USD Technical Levels</h2>
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<br /><a href="https://www.fxstreet.com/news/aud-usd-price-analysis-hurdles-200-dma-and-turns-bullish-eyeing-06600-202401192303">Source link </a></p><p>The post <a href="https://forextraderhub.com/hurdles-200-dma-and-turns-bullish-eyeing-0-6600.html">Hurdles 200-DMA and turns bullish, eyeing 0.6600</a> first appeared on <a href="https://forextraderhub.com">Forex Trader Hub</a>.</p>