AUDUSD rises with consolidation above 0.62000

On April 4, news of Donald Trump’s new import tariffs triggered a market panic. This caused AUDUSD to plummet from 0.63230, followed by continued downward momentum through April 7–8 as residual shock pushed the pair to 0.59560. In total, the price decline reached 5.77%. On April 9, the market steadily corrected halfway up the collapse path to 0.61490 (+3.27%).

Today, April 10, the currency pair continues its corrective upward movement, attempting to consolidate above the 0.62000 level. This psychological level hasn’t been seriously broken since spring 2020. The Australian dollar is now approaching this level as its key support target.

On April 9, the Relative Strength Index (RSI) registered at 19, signaling that the instrument’s price entered oversold territory and suggesting a potential bullish reversal. Today, the RSI has risen to 40, confirming the established upward price trend. Additionally, the Moving Average Convergence Divergence (MACD) indicator on the hourly timeframe confirms the bullish trend, aiming to recover from last week’s price collapse and return to pre-shock levels.

The Australian dollar regained ground against the US dollar following reports that Australia is preparing to restart trade negotiations with the European Union in response to new US tariffs. The previous round of comprehensive negotiations collapsed two years ago due to disagreements over market access for certain Australian agricultural products to the EU’s 450 million consumers, stemming from trademark inconsistencies. The parties agreed to resume talks immediately after Australia’s federal elections scheduled for May 3.

Trading strategy option: Buy at current price with Take Profit at 0.62700 and Stop Loss at 0.61000.