The US dollar is under pressure on Tuesday and the pair AUD/USD continues to recover from the 0.7600 area. The Australian dollar was last seen trading 0.7726, increasing 0.27% on the day, and the next resistance is seen at 0.7762, as reported Karen Jones, Head of the Technical Analysis Research Team at Commerzbank.
“AUD / USD continues to bounce from the 55-day moving average at 0.7605 and the 2020-2021 support line at 0.7619 this week. It is currently heading towards the 0.7762 resistance line and the January high of 0.7820, a close above here will be bullish. Above the market, we have TD resistance at 0.7925 which, if reached, will likely hold the initial test. “
“The 0.7925 level is considered the barrier to the 2018 high at 0.8135.”
“Below 0.7560 (last week’s low) a fall will be triggered to the December 21 low of 0.7463 and also to the September high of 0.7413 and the November 9 high of 0.7340.”
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