AUD/USD Price Analysis: Aussie consolidating above 0.6260 level

 

 

AUD/USD is stabilizing yet still below the main SMAs on the daily chart as the bullish recovery originating from mid-March is taking a breather. 

 

 

AUD/USD is consolidating the gains made in the last weeks above the 0.6260 level. The aussie is trading above the 100 and 200 SMAs on the four-hour chart retaining a bullish bias in the medium-term. However, bulls will need to overcome the 0.6350 level and the 50 SMA to open the gates towards the 0.6450 level, the April’s high.