AUD/USD declines to 0.6950

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


The support of the 0.6990/0.7000 zone was not enough to stop the AUD/USD currency pair from declining. The rate passed below the zone and reached the 0.6950/0.6960 range. During the early hours of Thursday's trading, the rate recovered and shortly traded above 0.7000, before once again returning to the 0.6950/0.6960 levels.

A move below the 0.6950/0.6960 range might immediately find support in the weekly simple pivot point at 0.6945. However, further below only the 0.6900 and 0.6850 levels could slow down a decline, before the rate reaches the May 12 low level at 0.6827.

Meanwhile, a recovery of the rate would have to pass the this weeks high level zone at 0.7040/0.7045, the 0.7050 mark and the weekly R1 simple pivot point at 0.7061.

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