AUD/USD Analysis: Moving towards 0.7249

Dukascopy Bank Team Dukascopy Bank SA

AUDUSD

The Australian Dollar has continued to gain strength against the US Dollar. The currency pair appreciated about 49 base points during the previous trading session.

By and large, the 50-hour simple moving average will guide the exchange rate towards the monthly pivot points at 0.7246 within this session.

If and when the resistance level set by the monthly PP holds, the currency exchange rate will make a reversal south and potentially breakout through the lower boundary of a junior ascending channel at 0.7183 during the following trading 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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