AUD/USD analysis: Breakout occurs

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar declined by 87 pips or 1.11% against the US Dollar on Wednesday. A breakout occurred through the lower boundary of an ascending channel pattern during Wednesday's trading session.

All things being equal, the AUD/USD exchange rate could continue to edge lower during the following trading session. The potential target for sellers would be near the 0.7650 level.

However, bearish traders are likely to encounter a support level at 0.7686 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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