AUD/USD finds resistance in pivot point

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


The surge of the AUD/USD passed the resistance of the March 10 high level in a sharp move up, not even testing the resistance zone. Afterwards, the rate revealed the zone's upper border by starting to find support in it. On Friday morning, the rate surged from the 0.7365/0.7372 zone and found resistance in the weekly R1 simple pivot point at 0.7409.

If the Australian Dollar passes above the weekly R1 simple pivot point against the US Dollar, the currency pair might find resistance in the March high level zone at 0.7432/0.7442.

On the other hand, a decline of the pair would have to pass the 0.7365/0.7372 zone before approaching the combination of the weekly simple pivot point at 0.7327 and the 50-hour simple moving average.
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