AUD/USD passes support levels

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


The AUD/USD currency pairs surge did not reach the resistance levels near 0.6950, as it declined during the second part on Wednesday. During the decline, the pair ignored previous high levels, the 0.6900 mark, the 50-hour simple moving average and the weekly R1 simple pivot point at 0.6868.

It appears that the pair is unlikely to react to technical levels in the near term future. Due to that reason, high and low levels could be used. Three notable zones have been marked on the chart. Note the recent high level zone at 0.6920/0.6930, the July 18 highs near 0.6845/0.6854 and the zone, which surrounds the 0.6800 mark.

A potential recovery of the Australian Dollar against the USD would have to pass the 0.6920/0.6930 zone, prior to testing the 0.6950 and 0.7000 levels.

On the other hand, a decline would look for support in the mentioned zones below.
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