Analysis

AUD/USD analysis: Breakout occurs

AUD/USD

The Australian Dollar has declined by 80 basis points or 1.22% against the US Dollar since Thursday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern on Thursday.

Given that a breakout had occurred, the AUD/USD currency pair would continue to decline within this session. The potential would be near the weekly pivot point at the 0.6450 area.

However, the 200– hour simple moving average at 0.6499 could provide support for the currency exchange rate during the following trading session.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.