AUD/USD trades near high levels

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


The AUD/USD failed to reach the 0.7050 mark, as resistance was encountered in the 0.7040 level. Afterwards, a decline followed, which appeared to be finding support in the 0.7000 level. Since the middle of Tuesday, up to mid-Wednesday, the pair fluctuated in the 0.7000/0.7040 range.

If the Australian Dollar resumes its surge against the USD, the pair would have to pass the resistance of the 0.7040 and 0.7050 levels, before approaching the weekly R1 simple pivot point at 0.7061.

On the other hand, a decline of the pair is set to look for support in the 0.6990/0.7000 zone and the 50-hour simple moving average. Below these levels the May 14 high levels at 0.6950/0.6960 and the 200-hour simple moving average might stop a decline. In addition, take into account the weekly simple pivot point at 0.6945 and the 100-hour simple moving average.
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Wed, 18 May 2022 09:51:29 GMT

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