AUD/USD Analysis: bullish momentum likely to continue

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

Bullish momentum has continued to dominate the Australian Dollar against the US Dollar on Thursday. The currency pair hit November 5th high level at 0.6936 during yesterday's trading session.

As for the near future, the AUD/USD exchange rate could make a brief retracement down towards a support cluster formed by the weekly R1 and the monthly R1 at the 0.6881 zones.

The currency exchange rate will most likely continue its bullish movement from the given support level, as mentioned earlier, during the following trading session.

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Dukascopy Bank Team

Dukascopy Bank SA

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