AUD/USD reaches above resistance

Source: Dukascopy Bank SA


On Tuesday, the AUD/USD currency pair managed to reach above the 0.6510/0.6530 zone. However, the 0.6550 level acted as resistance and caused a decline.

In the case the pair resumes its surge, it would have to pass the 0.6550 level, before approaching the 0.6600 mark and the weekly R2 simple pivot point at 0.6609. Higher above, the 0.6650 level might slow down a surge, before the pair reaches the weekly R3 simple pivot point at 0.6680.

On the other hand a decline of the Aussie against the US Dollar is set to find support in the 0.6450 level. This level acted as support throughout Tuesday's early trading. Below the round level, take into account he weekly simple pivot point at 0.6434 and the Monday's low level below 0.6400.
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