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The AUD/USD has continued to trade in the range between support at 0.7467/0.7474 and resistance at 0.7537/0.7541. On Thursday morning, the rate was looking for support in the 0.7467/0.7474 zone.
If the pair passes below the support zone, the early March high level at 0.7440 might act as support. Further below, the weekly S1 simple pivot point at 0.7416 could stop a potential decline.
However, a recovery of the Australian Dollar against the US Dollar is expected to encounter resistance in the 50-hour simple moving average near 0.7500. Higher above, the 0.7537/0.7541 zone is located at.
Thu, 31 Mar 2022 08:55:03 GMT
Source: Dukascopy Bank SA
The AUD/USD has continued to trade in the range between support at 0.7467/0.7474 and resistance at 0.7537/0.7541. On Thursday morning, the rate was looking for support in the 0.7467/0.7474 zone.
If the pair passes below the support zone, the early March high level at 0.7440 might act as support. Further below, the weekly S1 simple pivot point at 0.7416 could stop a potential decline.
However, a recovery of the Australian Dollar against the US Dollar is expected to encounter resistance in the 50-hour simple moving average near 0.7500. Higher above, the 0.7537/0.7541 zone is located at.