AUD/USD ends decline and breaks pattern

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Source: Dukascopy Bank SA


The AUD/USD currency exchange rate broke the resistance of the channel down pattern. On Tuesday morning, the pair was located near the 0.7150 mark, as the rate had broken various technical resistance levels and the 0.7150 mark. Namely, the 50 and 200-hour simple moving averages and the weekly simple pivot point failed to stop a surge.

If the currency pair continues to surge, it might test the resistance of the February 11 high levels above the 0.7180 mark. Above this level, the 0.7200 mark might act as resistance, before the rate reaches the weekly R1 simple pivot point at 0.7238.

On the other hand, a decline of the Aussie against the USD might look for support in the 50 and 200-hour simple moving averages. Below the SMAs, the 0.7087/0.7090 zone could once again stop a decline.
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Tue, 15 Feb 2022 10:08:57 GMT

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