AUD/USD Analysis: Moving towards target at 0.7144


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
  1. PP 0.7234
    1. S1 0.7194
    2. S2 0.7151
    3. S3 0.7111

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.