AUDUSD Analysis: Uptrend Continuation and Key Levels
AUDUSD continues its upward trajectory from 0.6477, with the recent retracement from 0.6667 likely representing a period of consolidation within the uptrend.
As long as the support at 0.6584 remains intact, the uptrend is anticipated to resume, potentially leading to a further ascent towards the 0.6750 region.
The initial resistance level to monitor is at 0.6640. A successful breakout above this level could propel the price towards testing the 0.6667 resistance. Subsequent breakthrough above 0.6667 would set the stage for a push towards 0.6750.
Conversely, a breakdown below the 0.6584 support level would signal a potential completion of the upward movement at 0.6667, potentially resulting in a decline towards the 0.6500 level.