AUD/USD testing resistance at 0.6660/80 area

• AUD/USD rebound from 0.6565 extends to test resistance area at 0.6660/80.
• The aussie appreciates 0.6% through the day as market sentiment improves.

The Australian dollar reversal from 0.6680 found support at 0.6565 and the pair has bounced up on Thursday, buoyed by the favourable market sentiment, to reach a key resistance hurdle at 0.6660/80.

The Aussie appreciates about 0.6% through the day reaching session highs at 0.6667 where the 200-day SMA meets the top line from the peaks of April 6 and 9 and May 26 and 27.

If the pair manages to break above 0.6680 it might gain bullish traction to aim towards February highs at 0.6775 and January 9 and 10 lows at 0.6850. On the downside, immediate support lies at 0.6565 (May 27 low) and below here, probably the 100-day SMA at 0.6485 and May 15 low at 0.6400.

AUD/USD daily chart