AUD/USD bounces off 0.6980

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


During the midnight hours to Tuesday, the AUD/USD rate bounced off the resistance of the 0.6980 level and began a decline. By the middle of the day's European trading hours, the pair had reached the combined support of the 100-hour simple moving average and the 0.6920 level.

A move below 0.6920 could result in the pair lookin for support in the 0.6900 level, the weeky simple pivot point at 0.6894 and the previous July high level at 0.6895. Further below, note the Monday's low level at 0.6880.

On the other hand, a surge of the Aussie agains the Greenback would have to pass the 0.6980 level, prior to testing the weekly R1 simple pivot point at 0.7005 and the 0.7000 mark.
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