AUD/USD Analysis: breaches descending channel

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar depreciated about 38 basis points against the US Dollar on Wednesday. However, the currency pair reversed north during the morning hours of Thursday's trading session.

Everything being equal, the AUD/USD exchange rate will trade bullish within this session. The potential target for the currency exchange rate would be at the monthly pivot point at 0.6776.

On the contrary, technical indicators demonstrate that the Greenback will gain strength against the Aussie today.

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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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