AUD/USD adjusts pattern

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


Recent fluctuations of the AUD/USD currency pair have caused an adjustment of the channel up pattern, which has guided the rate up since Tuesday. Meanwhile, it was spotted on Thursday that the pair has been fluctuating between the support of the weekly simple pivot point at 0.7424 and the resistance of the weekly R1 simple pivot point at 0.7459.

A potential continuation of the surge of the Australian Dollar against the US Dollar would have to pass the weekly R1 simple pivot point at 0.7459, before approaching the resistance zone at 0.7492/0.7495 and the 0.7500 mark.

On the other hand, a decline of the pair is expected to first look for support in the lower trend line of the channel up pattern near 0.7435. Further below, note the weekly simple pivot point at 0.7224. In addition, the 50 and 200-hour simple moving averages were located at 0.7415. Moreover, the 0.7400 mark and the 100-hour simple moving average are expected to act as support.
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