HomeContributorsTechnical AnalysisAUD/USD Moving Towards 0.7169

AUD/USD Moving Towards 0.7169

The Australian Dollar appreciated about 60 base points against the US Dollar on Monday. The currency pair dashed through both the 50-, 100– and 200– hour SMAs during Monday’s trading session.

The exchange rate is gradually moving towards a resistance cluster formed by the weekly and the monthly pivot points at 0.7147.

If the resistance cluster holds, a reversal down could be expected within this session.

However, if the currency exchange rate passes the resistance cluster, the next target for bullish traders will be near a swing high of 0.7169.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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