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During the early hours of Thursday's trading, the AUD/USD currency pair managed to breach the resistance of the 0.6960/0.6970 zone. By the middle of the day, the pair was testing the previous resistance as support.
An extension of the Australian Dollar's surge against the USD might encounter resistance in the 0.7000 level, before the pair reaches the weekly R1 simple pivot point at 0.7044.
However, a decline of the currency pair below the 0.6960/0.6970 is expected to look for support in the weekly simple pivot point at 0.6951 and the 0.6950 level. Further below, the 200-hour simple moving average might slow down a decline near 0.6940.
Thu, 25 Aug 2022 10:46:32 GMT
Source: Dukascopy Bank SA
During the early hours of Thursday's trading, the AUD/USD currency pair managed to breach the resistance of the 0.6960/0.6970 zone. By the middle of the day, the pair was testing the previous resistance as support.
An extension of the Australian Dollar's surge against the USD might encounter resistance in the 0.7000 level, before the pair reaches the weekly R1 simple pivot point at 0.7044.
However, a decline of the currency pair below the 0.6960/0.6970 is expected to look for support in the weekly simple pivot point at 0.6951 and the 0.6950 level. Further below, the 200-hour simple moving average might slow down a decline near 0.6940.