Dukascopy Bank Team
Dukascopy Bank SA
The Australian Dollar traded with low volatility against the US Dollar on Monday, as the currency pair was moving within the range of 0.7309/0.7255 along a junior descending channel pattern.
No changes occurred in the overall positioning of the AUD/USD exchange rate during the first part of Tuesday's session. Lack of outside pressure allowed the price to remained stable.
Given that the currency exchange rate has moved near the 0.7257 mark, a breakout from Monday's trading range is likely to occur during the following trading session. Meanwhile, technical sentiment supports a bearish movement.
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.
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