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On Tuesday, the AUD/USD currency pair broke the resistance of the 50 and 100-hour simple moving averages and approached the resistance zone at 0.7490/0.7495. By the middle of Wednesday's trading, the rate had declined to the major support zone at 0.7360/0.7425.
A decline into the support zone might find additional support in the 0.7400 mark and the weekly S1 simple pivot point at 0.7369. Take into account that the 0.7400 mark caused the Tuesday's surge.
Meanwhile, a potential surge would most likely encounter resistance in the 0.7490/0.7495 zone and the 200-hour simple moving average, before approaching the 0.7500 mark and the weekly simple pivot point at 0.7515.
Wed, 13 Apr 2022 08:34:57 GMT
Source: Dukascopy Bank SA
On Tuesday, the AUD/USD currency pair broke the resistance of the 50 and 100-hour simple moving averages and approached the resistance zone at 0.7490/0.7495. By the middle of Wednesday's trading, the rate had declined to the major support zone at 0.7360/0.7425.
A decline into the support zone might find additional support in the 0.7400 mark and the weekly S1 simple pivot point at 0.7369. Take into account that the 0.7400 mark caused the Tuesday's surge.
Meanwhile, a potential surge would most likely encounter resistance in the 0.7490/0.7495 zone and the 200-hour simple moving average, before approaching the 0.7500 mark and the weekly simple pivot point at 0.7515.