AUD/USD trades in sideways range

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


The AUD/USD currency pair has been trading sideways in a range between support at 0.6855/0.6860 and resistance at 0.6960/0.6970. In the meantime, it has been observed that minor support and resistance is being provided from time to time by the 50 and 100-hour simple moving averages near 0.6900.

In the case of the Australian Dollar declining and reaching below the 0.6855/0.6860 zone, the pair might find support in the weekly S1 simple pivot point at 0.6778. However, the 0.6800 mark might slow down a potential decline.

On the other hand, a recovery of the currency pair would have to pass the weekly simple pivot point at 0.6951 and the 0.6950 level, before the high level zone at 0.6960/0.6970 is tested.
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