AUD/USD breaks pattern

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


On Friday, the AUD/USD eventually broke the channel up pattern, which had guided the last week's surge. However, the event was not followed by a decline, as the pair found support in the 50-hour simple moving average. By the middle of the day's European trading hours, the rate continued to find support in the SMA. Meanwhile, resistance appeared to be provided by the 0.7540 mark.

If the SMA manages to push the rate through the 0.7540 mark, the rate might encounter resistance in the 2021 October high level at 0.7555. Above the 2021 October high, note the weekly R1 simple pivot point at 0.7579.

However, a potential decline below the simple moving average, could look for support in the 0.7500 mark, before approaching the weekly simple pivot point at 0.7477.
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