Dukascopy Bank Team
Dukascopy Bank SA
AUD/USD
The Australian Dollar fell by 84 basis points or 1.08% against the US Dollar on Friday. The currency pair breached the 50-, 100– and 200– hour SMAs during Friday's trading session.
Everything being equal, the AUD/USD exchange rate could continue to decline during the following trading session.
Given that the pair is currently trading near the lower line of an ascending channel pattern, a breakout could occur today.
However, if the channel pattern holds, bullish traders could pressure the currency exchange rate higher during the following trading session.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
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