AUD/USD recovery faces resistance

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


In early August, the Australian Dollar dropped against the US Dollar, as the USD was strengthened by the unwinding of the Japanese Yen carry trade and bad US employment data. However, support was found in the 0.6350/0.6390 range. Since then, the pair has recovered and on August 13 was piercing the resistance of the 200-day simple moving average near 0.6600.

An extension of the ongoing recovery is expected to face resistance in the 50-day simple moving average near 0.6640. Higher above, the 0.6700 mark could slow down the pair, before it reaches the July high levels near 0.6800. If all of these levels fail, the AUD/USD might aim at the mid and late 2023 high level range at 0.6870/0.6900.

In the case of another decline of the Australian Dollar against the US Dollar, the rate might aim at the support of the 0.6500 level, prior to reaching the 0.6350/0.6390 range.
Back to articles

Actual Topics

Tue, 13 Aug 2024 14:12:56 GMT

GBP/JPY respects round levels

In general, the Bank of Japan tightens and the Bank of England reduces interest rates, which would mean that the trade is simple - JPY up and GPB down. However, due to the pair going down almost vertically. Eventually, it culminated in the pair reaching as low as 180.00, before a recovery started. In mid-August, the rate had recovered to

Sun, 04 Aug 2024 21:58:10 GMT

Microsoft reaches technical support

From a fundamental perspective, the price of Microsoft stock started to decline due to profit taking before the publication of the quarterly financial results. It was forecast that the firm will report rising costs and slow down in the pace of increasing profits. The released quarterly results confirmed the suspicions. To sum it up - the firm is not

Subscribe to "Fundamental Analysis" feed

Subscribe
To learn more about Dukascopy Bank CFD / Forex trading platform, SWFX 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.
To learn more about Dukascopy Bank Binary Options / Forex trading platform, SWFX and other trading related information,
please call us or make callback request.
Chcete-li se dozvědět více o platformě Dukascopy Bank CFD / Forex, SWFX a dalších souvisejících obchodních informacích, prosím, zavolejte nám, nebo vám můžeme zavolat my.
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.