AUD/USD analysis: Bounces off support

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

On Monday, the AUD/USD currency pair bounced off a support level at 0.7460. As a result, the Australian Dollar surged by 34 pips or 0.45% against the US Dollar during Monday's trading session.

Technical indicators suggest buying signals on the 4H and daily time-frame charts. Most likely, buyers could pressure the exchange rate higher during the following trading session.

However, the currency exchange rate could encounter resistance at 0.7540 within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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