AUD/USD remains below 0.7200

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


On Monday, the AUD/USD pair retraced down to the support of the 0.7150 mark. On Tuesday, the rate had recovered and was testing the resistance of the weekly simple pivot point at 0.7197 and the 0.7200 mark.

A surge above the 0.7200 mark might find resistance in the 200-hour simple moving average near 0.7210. Higher above, resistance could be provided by the weekly R1 simple pivot point at 0.7264. Above the pivot point, the late December and January high level zone is located at 0.7273/0.7280

Meanwhile, a decline would look for support in the January low level zone at 0.7130/0.7150. A move below the support zone could reach the weekly S1 simple pivot point at 0.7112.

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