Momentum builds as price holds above 0.6600
The post Momentum builds as price holds above 0.6600 appeared on BitcoinEthereumNews.com.
The Australian Dollar (AUD) extends gains against the US Dollar (USD) on Tuesday after the Reserve Bank of Australia’s Meeting Minutes showed policymakers discussed the risk that interest rates may need to rise if inflation remains persistent. At the time of writing, AUD/USD trades around 0.6688, its highest level since September 17. Elsewhere, the US Dollar remains on the defensive as expectations that the Federal Reserve (Fed) could ease monetary policy further into 2026 continue to weigh on the Greenback, allowing higher-beta currencies like the Aussie to stay supported. From a technical perspective, AUD/USD remains well supported after staging a clean break above a falling wedge pattern on the daily chart. The pair is trading comfortably above its key moving averages, reinforcing the broader bullish structure. Momentum indicators also favour the upside, with the Relative Strength Index (RSI) holding near 67, while the Average Directional Index (ADX) has climbed above 29, pointing to strengthening trend conditions. Immediate resistance is seen near 0.6707, the September 17 peak and the highest level since October 2024. A sustained break above this level would open the door toward the 0.6800 psychological handle, with scope for further upside if bullish momentum continues to build. On the downside, the 0.6600 psychological level serves as initial support, aligning closely with the 21-day Simple Moving Average (SMA). A break below 0.6600 could expose the 50-day SMA near 0.6550. A daily close below the 50-day SMA would weaken the near-term bullish bias and could trigger a deeper pullback toward the 0.6500 and 0.6450 support zones. Australian Dollar FAQs One of the most significant factors for the Australian Dollar (AUD) is the level of interest rates set by the Reserve Bank of Australia (RBA). Because Australia is a resource-rich country another key driver is the price of its biggest export,…
Filed under: News - @ December 23, 2025 6:26 pm