AUD/USD reaches above 0.7200

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


On Thursday morning, the AUD/USD currency pair reached above the 0.7200 mark. However, the event was followed up by a sharp drop to the 0.7150 mark, which was followed by a recovery back up above 0.7200. Meanwhile, it was spotted that the 0.7180/0.7186 zone could act as both support and resistance.

If the Australian Dollar gains value, compared to the US Dollar, the currency pair would have to pass the 0.7215 level, which acted as resistance on Thursday morning. Higher above, the pair might find resistance in the weekly R1 simple pivot point at 0.7241, before reaching the February high level at 0.7250.

However, a decline of the pair would look for support in the 0.7180/0.7186 zone, the 50-hour simple moving average near 0.7170 and the weekly simple pivot point together with the 200-hour SMA at 0.7150.
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