AUD/USD analysis: Tests 50– hour SMA at 0.7832

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar declined by 63 pips or 0.79% against the US Dollar on Monday. The currency pair tested the 50– hour simple moving average during Monday's trading session.

Currently, the AUD/USD exchange rate is trading near the 50– hour SMA at the 0.7832 level.

If the support line set by the 50–hour moving average holds, bullish traders might pressure the price higher today. However, if the currency exchange rate breaks the support level, the next target for sellers would be near the 0.7750 area.

However, if the currency exchange rate breaks the support level, the next target for sellers would be near the 0.7750 area.

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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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