Dukascopy Bank Team
Dukascopy Bank SA
AUD/USD
The Australian Dollar declined by 43 points or 0.63% against the US Dollar on Monday. The decline began after the currency pair tested the resistance cluster at 0.6884 during the previous session.
Everything being equal, the exchange rate could continue to trade in a descending channel pattern within the following trading session. The possible target would be at the 0.6820 area.
However, if the AUD/USD pair breaks the 50– hour SMA at 0.6868, a surge towards the 0.6900 level could be expected today.
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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