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AUD/USD Decline Insight

The Australian Dollar depreciated about 60 base points against the US Dollar on Thursday. The decline was stopped by the lower boundary of an ascending channel pattern at 0.7072.

Technical indicators flash sell signals on both the 4(H) and the daily chart. Therefore, it is likely that the decline of the currency exchange rate could continue during the following trading session.

The potential downside target for bearish traders within this session will be near a swing low of 0.7060

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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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