AUD/USD analysis: Reaches below 0.7100
|AUD/USD
On Monday morning, the AUD/USD currency exchange rate reached below the 0.7100 level. However, after shortly trading below 0.7100, the rate recovered.
By the middle of the day's trading, the pair had no resistance as high as the 0.7140 level, where a resistance zone was located at. Above the zone, the 50 and 200-hour simple moving averages and the weekly simple pivot point are located near 0.7150.
Meanwhile, a decline of the pair is most likely going to find support in the weekly S1 simple pivot point at 0.7070.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.