AUD/USD tests 0.7000 resistance

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


The US Federal Reserve rate hike and the following press conference moved the AUD/USD rate to trade between the resistance of the 0.7000 mark and the support of the 0.6975/0.6980 zone. However, it was observed that the pair was managing to shortly reach above the 0.7000 level.

If the Australian Dollar reaches above 0.7000, the 0.7040 and 0.7060 levels could act as resistance, as they did in early July. Higher above, the weekly R2 simple pivot point at 0.7088 might slow down a potential surge.

On the other hand, a decline below 0.6975/0.6980 is highly likely set to look for support in the 0.6960 and 0.6920 levels.
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