HomeContributorsTechnical AnalysisAUD/USD Likely To Edge Lower Today

AUD/USD Likely To Edge Lower Today

The Australian Dollar appreciated about 66 base points against the US Dollar on Friday. The currency pair reached a three-week high level at 0.7160 during the morning hours of today’s session.

As for the near future, it is likely that the AUD/USD exchange rate edges lower toward a support cluster formed by the monthly pivot point and the combination of the 100– and 200-hour SMAs at 0.7109.

If this support cluster as mentioned above holds, the currency exchange rate will continue its gradual upside movement during the following trading sessions.

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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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