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AUD/USD analysis: Reaches below 0.7100

Dukascopy Bank Team Dukascopy Bank SA

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.

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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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AUD/USD analysis: Reaches below 0.7100

AUD/USD

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