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HomeContributorsTechnical AnalysisAUD/USD Pair Moved into a Positive Zone from 0.7150

AUD/USD Pair Moved into a Positive Zone from 0.7150

FXOpen
By FXOpen

The Aussie Dollar started a fresh increase from the 0.7120 support zone against the US Dollar. The AUD/USD pair traded above the 0.7150 level to move into a positive zone.

The pair even traded above the 0.7200 level and the 50 hourly simple moving average. Recently, it cleared a key connecting bearish trend line with resistance near 0.7188 on the hourly chart. An immediate resistance on the upside is near the 0.7215 level.

The next major resistance is near the 0.7220 level, above which the pair could rise steadily towards the 0.7250 level in the near term. Any more gains could send the pair towards 0.7280 on FXOpen.

An immediate support on the downside is near the 0.7195 level. The next key support is near the 0.7180 level. A clear break below the 0.7180 support could lead the pair towards the 0.7120 support.

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