AUD/USD finds support in historical level zone

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


This week, the AUD/USD found support in the September low and December high level zone at 0.7170/0.7185. On Tuesday, the rate recovered, as it passed above the 0.7200 mark.

A continuation of the recovery of the Australian Dollar against the US Dollar might find resistance in the weekly S1 simple pivot point at 0.7227. Above the pivot point, the 50 and 200-hour simple moving averages near 0.7235 could act as resistance. In addition, take into account that a passing above the SMAs would find resistance near the 0.7250 mark. Meanwhile, the weekly simple pivot point is located at 0.7252.

On the other hand, a decline of the rate would find support in the 0.7170/0.7185 zone and the weekly S2 simple pivot point at 0.7180. Further below, the weekly S3 is located at 0.7154.
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