AUDUSD
The Australian Dollar appreciated about 73 base points against the US Dollar on Friday. The currency pair breached both the 50– and 100-hour SMAs during Friday's trading session.
Most likely, the currency exchange rate will move towards a support cluster formed by the combination of the 50– hour simple moving average and the weekly pivot point at 0.7153.
If the support level, as mentioned above holds, the AUD/USD exchange rate will continue its upside movement today.
Although, if the rate passes the support line, bears could drag the currency exchange rate lower 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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