AUD/USD once again bounces off 0.7400

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


On Wednesday, the AUD/USD found support in the 0.7400 mark and started another short term recovery. On Thursday, the pair traded almost flat near the 0.7450 mark.

If the rate continues to surge, it would encounter resistance in the zone at 0.7490/0.7495 and the 100-hour simple moving average. Higher above, note the 0.7500 mark and the weekly simple pivot point at 0.7515.

Meanwhile, a decline is set to once again look for support in the major support zone at 0.7360/0.7425. A decline into the support zone might find additional support in the 0.7400 mark and the weekly S1 simple pivot point at 0.7369. The 0.7400 mark caused Tuesday's and Wednesday's recoveries.

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