AUD/USD books new low level

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


On Wednesday, the decline of the Australian Dollar against the USD found support in the weekly S2 simple pivot point at 0.6362. The event was followed by a surge, which stopped at the 0.6510/0.6530 range. By the middle of Thursday's European trading hours, the pair had retraced back below 0.6500.

If the AUD/USD declines, support might be found in the weekly S1 simple pivot point at 0.6449, the 0.6450 level and the 50-hour simple moving average. Further below, the 0.6400 level could act as support, before the weekly S2 simple pivot point is once again reached.

However, a recovery of the pair would have to pass the 0.6500 mark and the 0.6510/0.6530 zone. Higher above, note the 0.6550 level, the 200-hour simple moving average near 0.6570 and the 0.6600 level, which is strengthened by the weekly simple pivot point.
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