Dukascopy Bank Team
Dukascopy Bank SA
AUD/USD
The Australian Dollar has surged by 32 basis points against the US Dollar since yesterday's trading session. A breakout occurred through the upper boundary of a descending channel pattern during the morning hours on Friday.
Given that a breakout had occurred, the AUD/USD exchange rate will continue to edge higher within this session. The potential target will be near a psychological level at the 0.6920 area.
However, resistance levels at the 0.6887/0.6906 regions could hinder bullish traders from driving 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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