AUD/USD analysis: Pressured by SMAs

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

On Tuesday, the Australian Dollar declined by 25 pips or 0.34% against the US Dollar. The currency pair encounter a resistance cluster at 0.7370 during yesterday's trading session.

The AUD/USD exchange rate is likely to continue to edge lower during the following trading session. The potential target for bearish traders would be near the 0.7310 area.

However, the weekly support level at 0.7353 could provide support for the currency exchange rate within this 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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