AUD/USD Analysis: finds support cluster at 0.6778

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The bullish momentum prevailed in the market on Tuesday, allowing the AUD/USD currency pair to surge towards a swing high at 0.6790.

The exchange rate tested a support cluster formed by the 50-, 100– and 200– hour SMAs at 0.6776.

If this support cluster holds, a surge towards a resistance level formed by the weekly R1 at 0.6824.

On the other hand, the currency exchange rate might reverse from the current price level at 0.6786 and trade south for the remainder of today's trading session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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