AUD/USD trades near trend line

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


On Tuesday, the AUD/USD currency exchange rate approached the combined resistance of the trend line that connects the rate's recent highs and the 50-hour simple moving average near 0.7150.

If the currency exchange rate passes above the 0.7150 mark, it would have no technical resistance as high as the 0.7200 mark, the weekly simple pivot point at 0.7210 and the 200-hour simple moving average. In the case of the rate passing above these levels, the rate could reach for the weekly R1 simple pivot point near 0.7250.

Meanwhile, a bounce off from the trend line might look for support in the weekly S2 simple pivot point at 0.7103 and the 0.7100 mark, before reaching the December 20 low level zone near 0.7085.
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