AUD/USD Analysis: Target at 0.6752

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

During Friday's trading session, the Australian Dollar declined by 21 pips or 0.31% in value against the US Dollar. The currency pair tested the weekly pivot point at 0.6708 during the previous session.

All things being equal, the AUD/USD exchange rate could aim for a resistance level formed by the weekly R1 at 0.6752.

However, given that the currency exchange rate is currently trading near the lower boundary of an ascending channel pattern, a breakout could occur within 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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