AUD/USD potential breakout
|The Australian Dollar traded with low volatility against the US Dollar on Monday, as the currency pair was moving within the range of 0.7309/0.7255 along a junior descending channel pattern.
No changes occurred in the overall positioning of the AUD/USD exchange rate during the first part of Tuesday's session. Lack of outside pressure allowed the price to remained stable.
Given that the currency exchange rate has moved near the 0.7257 mark, a breakout from Monday's trading range is likely to occur during the following trading session. Meanwhile, technical sentiment supports a bearish movement.
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