AUD/USD Analysis: Bears market

Dukascopy Bank Team Dukascopy Bank SA

AUDUSD

The Australian Dollar has depreciated about 92 base points against the US Dollar since Thursday's session. The currency pair dashed through a one-week trading range during the first part of today's session.

As for the near future, it is likely that the AUD/USD currency pair will continue its bearish momentum. Bearish traders could push the currency exchange rate towards a swing low of 0.7061 today.

However, a traditional weekly and the monthly pivot points at 0.7144 could hinder the exchange rate from falling further south.

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Dukascopy Bank Team

Dukascopy Bank SA

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