AUD/USD Price Analysis: Aussie retraces to 0.6400 figure on USD uptick

 

 

AUD/USD pulled back down to the 0.6400 figure near the 50 and 100 SMAs on the four-hour chart. The bullish recovery started mid-March remains intact as the market is making higher highs and lows. Therefore buyers will be looking for a break above the 0.6450 resistance en route towards the 0.6500 figure and then the 0.6570 level (April high). Support is expected to hold near the 0.6400 figure in the medium-term.