AUD/USD retreats after central bank spike

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


The surge of the AUD/USD pair, which was caused by the Reserve Bank of Australia, stopped at the 0.7662 level. Afterwards, a decline followed. By the middle of Wednesday's trading, the decline had passed below the weekly R2 simple pivot point at 0.7579 and the 50-hour simple moving average.

If the Australian Dollar continues to decline in value against the US Dollar, the rate might look for support in the 2021 October high level at 0.7555 and the 0.7540 zone, which acted a support before the central bank caused a surge.

Meanwhile, a potential recovery of the pair might find resistance in the 0.7590/0.7600 zone, which appears to have been keeping the rate down since Tuesday afternoon GMT hours. Above the 0.7600 mark, take into account the weekly R3 simple pivot point a 0.7616.
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