AUD/USD plummets to 0.7150

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


The AUD/USD bounced off the December high level zone and sharply plummeted, starting from 19:00 GMT on Wednesday. The drop was fueled by the reveal that the US Federal Reserve monetary policy makers revealed their meeting minutes, which announced to the world that the US central bank might hike interest rates.

By the end of Thursday's European trading hours, the rate had shortly reached below the 0.7150 mark. The 0.7150 level provided resistance for a retracement back up. However, the recovery was stopped by the 0.7180 mark, the weekly S2 simple pivot point and the September low and December high level zone at 0.7170/0.7185.

In the case that the AUD/USD continues to decline, it could find support in the 0.7100 mark, before reaching the December 20 low level at 0.7083.

Meanwhile, a move above the resistance levels at 0.7170/0.7185 might find resistance at 0.7220/0.7235. At the 0.7220/0.7235 range the 50 and 200-hour simple moving averages are located together with the weekly S1 simple pivot point.
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