AUD/USD reaches new low

Source: Dukascopy Bank SA


On Monday morning, the AUD/USD currency pair passed below the support of the 0.6855/0.6860 zone. However, it was observed that the 0.6840 level had stopped the broad decline, which started on Friday, and a recovery was taking place.

In the case of a recovery of the Australian Dollar against the US Dollar the pair could encounter resistance first in the 0.6900 mark. Higher above, note the combination of the 50, 100 and 200-hour simple moving averages near 0.6920 and the weekly simple pivot point at 0.6918.

However, a decline of the currency exchange rate might find support in the 0.6840 level, the weekly S1 simple pivot point at 0.6827, the 0.6800 mark. Further below, note the weekly S2 simple pivot point at 0.6765.
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