AUD/USD recovers July losses

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


On July 19, the Australian Dollar surged above the 0.6895 level against the US Dollar. The 0.6895 level marks the July high level. Namely, the currency rate had recovered its recent losses.

If the recovery of the Australian Dollar continues, the currency pair could encounter resistance in the weekly R2 simple pivot point at 0.6948 and the 0.6950 level. Higher above, note the 0.7000 mark, which has acted as bot support and resistance during the previous months.

Meanwhile, a potential decline of the Aussie against the USD might look for support in the weekly R1 simple pivot point at 0.6868, before approaching the 0.6850 level and the recent recovery's supporting trend line.
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