Dukascopy Bank Team
Dukascopy Bank SA
As the US Dollar has kept appreciating the AUD/USD is no exception to the phenomenon. On Monday it could be seen that the rate was going down in a junior, narrow descending pattern.
The pattern was set to guide the rate down to the 0.7620 level, where various support levels are located. Namely, a monthly and a weekly support levels are located at that level together with the lower trend line of a dominant long term pattern.
It was expected that the rate could reach the support level by the middle of Monday's trading session in GMT time zone.
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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