AUD/USD declines below moving average

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


The recovery of the Australian Dollar against the US Dollar encountered resistance at the 0.7123/0.7126 zone and started a decline, which found support in the 50-hour simple moving average. On Tuesday morning, the AUD/USD currency exchange rate declined below the 50-hour simple moving average near 0.7080.

If the pair continues to decline, it might find support in the combination of the 0.7050 mark and the 100-hour simple moving average. Below these levels, note the May 20 low level zone at 0.7000/0.7010.

However, a recovery of the currency pair would have to reach above the 50-hour simple moving average near 0.7080 and the 0.7100 mark, prior to approaching the resistance of the weekly R1 simple pivot point at 0.7117 and the 0.7123/0.7126 zone.
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