AUD/USD reaches resistance zone

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Source: Dukascopy Bank SA


The surge of the AUD/USD has reached the resistance zone at 0.7160/0.7170 and the weekly R1 simple pivot point at 0.7170. Meanwhile, the resistance zone was being crossed by the trend line, which connects the January high levels.

In the case that the rate passes the mentioned resistance levels, the pair would have no technical resistance as high as the weekly R2 simple pivot point at 0.7260. However, round exchange rate levels might stop a potential surge.

On the other hand a bounce off from the resistance zone might find support in the 50-hour simple moving average near 0.7130. Further below, note the 0.7100 mark and the 200-hour simple moving average.
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Wed, 09 Feb 2022 10:14:41 GMT

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