AUD/USD finds support near 0.6300

Note: This section contains information in English only.
Source: Dukascopy Bank SA


The Australian Dollar has continued to decline in a large scale channel down pattern against the US Dollar throughout 2023. However, in late November the pair started to find support in the 0.6275/0.6290 range. The range was strong enough to eventually cause a surge that broke the 50-day simple moving average and the 0.6450/0.6500 zone.

Most recently, the rate's surge reached the 200-hour simple moving average and the 0.6570/0.6600 zone. At the time of this review, the zone had held for a week.

A move above 0.6600 is expected to face resistance of the upper trend line of the 2023 channel down pattern and possibly the 0.6650 level. If the pattern is broken, the pair could move up and test the resistance of the 0.6785/0.6820 zone.

On the other hand, a resumption of the broader decline might look for support in the mentioned levels at 0.6450/0.6500, 0.6275/0.6290 and the 50-day simple moving average near 0.6400.
Back to articles

Actual Topics

Tue, 28 Nov 2023 11:45:09 GMT

USD/CAD remains in 2023 range

In general, the USD/CAD found support in the 2023 low level and started a surge. From August up to late October, the pair surged and shortly booked a new 2023 high level. However, the event was followed by a decline. Most recently, the pair passed below the combined support of the 1.3600 mark and the lower trend line of

Fri, 24 Nov 2023 14:03:00 GMT

EUR/JPY surge pierces resistance line

The EUR/JPY has been in a major scale channel up pattern since mid-2021. The rate has continued in the pattern higher, as since the last review it broke the resistance of the 158.00 and 160.00 levels. Most recently, the pair suddenly pierced the upper trend line of the pattern, before returning back below the trend line and resuming to

Subscribe to "Fundamental Analysis" feed

订阅
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
For further information regarding potential cooperation,
please call us or make callback request.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
欲了解更多有关杜高斯贝银行差价合约/外汇交易平台，SWFX和其它相关交易详情，
请致电我们或要求回电。
To learn more about Crypto Trading / CFD / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
To learn more about Business Introducer and other trading related information,
please call us or make callback request.
For further information regarding potential cooperation,
please call us or make callback request.