Skip to main content

AUD/USD edging towards key resistance again

When the AUD/USD rebound extended to as high as 0.6589 on November 21, it hit a major resistance level, then at 0.6590 (200 day moving average). That was reported on here at the time. The drop back from that high then saw it fall to 0.6521 the next day. Since then it has been pressing higher again and earlier today it reached a session high at 0.6571. That 200 day moving average is still falling and in place right now at 0.6585. So, as you can see the rebound so far today has come pretty close to that important resistance level, but at the same time, it has not put it to the test for a second time this week. As to whether it does remains to be seen. The AUD/USD is just now trading at 0.6567 

Ready to Get Started?

Start here. Join 2.9M Libertex users around the world!