The AUD/USD currency exchange rate's surge eventually bounced off the 0.7315 level. The event was followed by a decline. On Friday morning, the decline of the pair found support in the technical levels at 0.7264/0.7280. In that zone, the weekly R1 simple pivot point, the 50-hour simple moving average and a high and low level range was located.

If the currency exchange rate recovers, it would have no technical resistance as high as the weekly R2 simple pivot point at 0.7345. A move above the pivot point might test the November high and low level zone at 0.7360/0.7370.

Meanwhile, a decline of the Australian Dollar against the US Dollar would have to pass the technical levels int eh 0.7264/0.7280 zone, before aiming at the 200-hour simple moving average near 0.7220. Further below, the 0.7200 mark and the weekly simple pivot point at 0.7197 are expected to act as support.


This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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