AUD/USD breaks resistance levels

Source: Dukascopy Bank SA


On Tuesday morning, the AUD/USD currency exchange rate broke the resistance of the 50, 100 and 200-hour simple moving averages and the weekly simple pivot point near the 0.6920 level.

A continuation of the surge of the Australian Dollar against the US Dollar might encounter resistance in the weekly R1 simple pivot point at 0.6980 and the 0.7000 mark. Higher above, take into account the 0.7050 level and the weekly R2 simple pivot point at 0.7071.

However, a potential decline of the currency pair could look for support in the combination of the three hourly moving averages and the weekly simple pivot point in the 0.6900/0.6920 range. Further below, the 0.6880, 0.6860 and 0.6840 levels might stop a decline.
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