What's going on with the AUD/USD?

On the daily chart, the AUD/USD continues to move between the 20-day Simple Moving Average (SMA) and the 55-day SMA (0.6505). The 0.6400 level has become a relevant support, and a consolidation below it should bring further weakness to the Aussie, exposing the 20-day SMA at 0.6360.

What's going on with AUDUSD?

Upward trend forming, EMA break and retest. 3 profit zones identified. AUDUSD touches the target The Australian dollar pair against the US dollar , and finds strong support there to now show some bullish bias, influenced positively by stochastic indicators, heading towards achieving immediate gains that may reach 0.6468 .

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Will AUD/USD remain a'sell on rallies' trade in 2023?

Leading momentum indicators retain their hold in the bearish territory, suggesting that the AUD/USD pair is likely to remain a ‘sell on rallies’ trade in the 2023 year ahead. AUD/USD’s recovery from the last quarter of 2022, fuelled by China’s re-opening-led optimism, seems to have lost traction.