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AUDUSD Analysis: Reaches six-week high

Dukascopy Bank Team Dukascopy Bank SA

AUDUSD

The Australian Dollar continues its neat movement in ascending patterns against the US Dollar. By the end of trading session on Tuesday, the currency pair has reached a six-week high level at 0.7664.

During the first half of Wednesday's trading, the exchange rate made a brief retracement south. However, this decline has encountered a support set by the monthly pivot point at 0.76.

As for near future, the AUD/USD currency exchange rate is likely to continue its movement northward during the following trading session. In addition, technical indicators flash buy signals.

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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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AUDUSD Analysis: Reaches six-week high

AUDUSD

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