AUD/USD reaches above 0.7250

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


The support of the 0.7140 level was enough to cause a major surge of the AUD/USD rate. the surge shortly paused at 0.7200 and 0.7224/0.7230. During the midnight hour to Friday, the pair touched the 0.7280 level, before retracing down to look for support. Support appeared to be found in the 0.7250 mark and the weekly R2 simple pivot point at 0.7251.

If the rate resumes its surge, it could encounter resistance in the 0.7280 level and the 0.7300 mark. Higher above, take into account the 0.7335 level, where the weekly R3 simple pivot point is located at.

However, a decline of the rate below 0.7350 is set to look for support in previous resistance levels at 0.7224/0.7230 and 0.7200. Meanwhile, note that by large the pair has been ignoring the 50 and 100-hour simple moving averages.

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