AUD/USD finds support near 0.7100

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Source: Dukascopy Bank SA


On Tuesday morning, the decline of the AUD/USD found support below the 0.7100 mark. Namely, the 0.7091/0.7097 zone provided support for a recovery. By 09:00 GMT, the rate had reached above the 200-hour SMA at 0.7110 and the weekly simple pivot point at 0.7121.

A continuation of the surge of the pair could encounter resistance in the 50-hour simple moving average at 0.7145. Higher above, the 0.7173/0.7187 zone might stop a surge of the Aussie against the US Dollar.

Meanwhile, a decline of the rate is highly likely set to find support in the weekly simple pivot point at 0.7121, the 200-hour simple moving average at 0.7110 and the support zone at 0.7091/0.7097.
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