AUD/USD decline finds support near 0.7100

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


At midnight to Friday, the AUD/USD rate reached the 0.7085 level, which acted as support and started a recovery. During the European morning hours, the rate was testing the resistance of the zone near 0.7120, the 0.7140 level and the weekly S1 simple pivot point at 0.7135.

If the resistance levels fail to hold and a surge occurs, the rate is expected to test the resistance of the 0.7160 level and the 50-hour simple moving average. Higher above, note the 100 and 200-hour simple moving averages and the resistance line, which connects recent high levels.

Meanwhile, a decline of the Australian Dollar against the USD could look for support in the 0.7100 and the 0.7085 levels, prior to reaching the weekly S2 simple pivot point at 0.7067.
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Fri, 10 Jun 2022 08:51:25 GMT

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