AUD/USD Analysis: trades at 0.6807

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar has depreciated about 0.52% in value against the US Dollar since yesterday's trading session. The currency pair breached the 50– and 100– hour SMAs on Monday.

Currently, the AUD/USD exchange rate is testing a resistance cluster formed by the 50– and 100– hour simple moving averages at 0.6807.

If the currency exchange rate breaks the cluster, a surge towards the 0.6835 could be expected today.

However, if the resistance cluster holds, bearish traders could continue to drive the price lower 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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