AUD/USD passes below support zone

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


On Monday, the Australian Dollar declined against the US Dollar below the support zone at 0.7240/0.7250. The zone kept the pair up throughout March. In the meantime, at mid-day on Monday, the pair appeared to be finding resistance in the 0.7260 mark.

A move further below might result in the pair looking for support in the weekly S1 simple pivot point a 0.7213 and the 0.7200 mark. Below 0.7200, take into account the zone at 0.7150/0.7170.

However, a recovery of the Australian Dollar might encounter resistance int eh 0.7300 mark, before possibly finding resistance in the January high level at 0.7315, which should be strengthened by the 50 and 200-hour simple moving averages.
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Mon, 14 Mar 2022 10:45:07 GMT

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