AUD/USD passes support zone

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


Since late December 23, the AUD/USD currency exchange rate was finding support in the 0.7220 level. On Monday morning, December 27, the pair passed below 0.7220 and appeared to be heading to the 0.7200 mark. Note that the 0.7200 mark acted as support on December 23.

A passing below the 0.7200 level could find support in the weekly simple pivot point at 0.7188. Below the pivot point, the 200-hour simple moving average might act as support near 0.7170. Further below, there is no technical support as low as the weekly S1 simple pivot point at 0.7123. However, take into account that round exchange rate levels might stop a decline.

Meanwhile, a potential recovery of the Aussie against the USD is expected to find resistance at 0.7220, the 50-hour simple moving average at 0.7235 and the recent December high level zone at 0.7250/0.7255. Higher above, the weekly R1 simple pivot point provides resistance at 0.7293.
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