Fri, May 07, 2021 @ 13:08 GMT
Home Contributors Technical Analysis AUD/USD Might Aim At Weekly R1 At 0.7035

AUD/USD Might Aim At Weekly R1 At 0.7035

During the past 48 hours, the Australian Dollar has appreciated about 92 base points against the US Dollar. The 200-hour simple moving average was providing support for the pair at 0.6980 during the morning hours of Friday’s trading session.

Most likely, the exchange rate will aim for a resistance level formed by the weekly R1 at 07035 within this session.

If the resistance line holds, a potential downside reversal could be expected before the end of today’s session.

Meanwhile, technical indicators demonstrate that the currency exchange rate might make a brief retracement down today.

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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