The Australian traded within the range of 0.6856/0.6892 against the US Dollar during this week's trading sessions. A breakout occurred through the lower boundary of an ascending channel pattern at 0.6880 on Thursday.
The exchange rate is currently testing a support cluster formed by the 50– and 100– hour SMAs at 0.6865.
If the support cluster holds, the AUD/USD currency pair will resume its upside movement within this session.
However, if the currency exchange rate passes the 50– and 100– hour SMAs, a decline towards the 0.6842 area could be expected today.
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.