AUD/USD reaches above 0.6900

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Source: Dukascopy Bank SA


Since Tuesday, the AUD/USD currency pair has managed to reach above the 0.6900 level and shortly traded above 0.6920. In general, the pair has moved only slightly, which has resulted in the previous forecasts remaining intact.

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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Wed, 20 Jul 2022 09:39:38 GMT

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