0137 GMT - AUD/USD's bias remains bullish above 0.6400, based on technical charts, StoneX's Matt Simpson says in commentary. On Friday, the currency pair formed a "bullish engulfing candle," and is now trading around 0.6500, the senior market analyst says. However, a clear breakout above this level would need a rise above the 200-week simple moving average and May high at 0.6515, the analyst says. Subsequent resistance above that would be the 0.6550 level, Simpson says. One-week implied volatility bands suggest a possible AUD/USD range between 0.6408 and 0.6580, Simpson adds. AUD/USD is 0.4% higher at 0.6512. (ronnie.harui@wsj.com)
(END) Dow Jones Newswires
May 25, 2025 21:37 ET (01:37 GMT)
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