AUD/USD trades sideways

Source: Dukascopy Bank SA


The AUD/USD pair trades between the resistance at 0.6510/0.6530 and support of the weekly S1 simple pivot point at 0.6449 and the 0.6450 level. Meanwhile, the rate was ignoring the 50 and 100-hour simple moving averages.

A move below 0.6550 would most likely result in the pair looking for support in the weekly S2 simple pivot point at 0.6362. Further below, note the 0.6350 and 0.6300 levels.

On the other hand, a surge above 0.6530 could face resistance in the 0.6550 level and the 200-hour simple moving average. Higher above, the weekly simple pivot point at 0.6598 and the 0.6600 level might act as resistance.
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