AUD/USD analysis: Could make brief retracement

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

Upside risks pressured the Australian Dollar against the US Dollar on Friday. As a result, the AUD/USD exchange rate surged by 92 pips or 1.20% during Friday's trading session.

Technical indicators suggest selling signals on the daily time-frame chart. Most likely, the currency pair could make a retracement towards the 50– hour simple moving average at 0.7699 today.

However, the weekly pivot point at 0.7718 could provide support for the currency exchange rate within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

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