AUD/USD remains in range

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


Despite shortly piercing the support zone at 0.7467/0.7474 on Tuesday, the AUD/USD eventually surged. By the middle of Wednesday's trading hours, the currency exchange rate had reached the resistance of the 0.7537/0.7541 levels.

If the Australian Dollar surges above the 0.7537/0.7541 zone against the US Dollar, the pair might encounter resistance in the form of the 0.7550 level and the 2021 high level at 0.7555. Further above, take into account the weekly R1 simple pivot point at 0.7579.

However, a bounce off from the resistance might look for support in the 0.7500 mark and the 50-hour simple moving average. Below the 0.7500 level, the weekly simple pivot point at 0.7477 and the 0.7467/0.7474 zone together with the 200-hour simple moving average could stop a decline.

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