AUD/USD Forecast: Analyzing the Future Outlook

During the previous week, our market performance demonstrated a degree of advancement; however, it presently exhibits characteristics of range-bound behavior. It is worth noting that last week, there was an upward movement, with an attempt to challenge the significant monthly resistance level of 64.58. Remarkably, this resistance level held firm through the close of trading on Friday.

For the upcoming trading week, our primary focal point is the 64.58 resistance level. Should the price maintain its resistance at this level, it could prompt a subsequent descent towards the established daily and weekly support levels. The envisaged scenario involves a potential break to the downside after navigating through these support levels.