AUD/USD Analysis: Moving towards target at 0.7144

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar has continued its southern journey against the US Dollar in a descending channel pattern.

Everything being equal, it is likely that bearish traders could drive the currency exchange rate down towards a support cluster formed by the combination of the weekly and the monthly PPs at 0.7144.

However, it is important to know that the US macroeconomic data releases schedule at 12:30 GMT could play a significant roll in the overall positioning of the AUD/USD currency pair within this session.

Interested in AUDUSD technicals? Check out the key levels

1. R3 0.736
2. R2 0.7318
3. R1 0.7277
PP 0.7234
1. S1 0.7194
2. S2 0.7151
3. S3 0.7111

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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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