AUD/USD anlaysis: Could edge higher

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar declined by 30 pips or 0.42% against the US Dollar on Monday. The decline was stopped by the 100– hour simple moving average at 0.7104 during yesterday's trading session.

Everything being equal, the AUD/USD currency pair could continue to decline during the following trading session. The potential target for bullish traders would be near the 0.7180 level.

However, technical indicators suggest that the currency exchange rate might edge lower during 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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