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AUD/USD Bearish Sentiment Today

The Australian Dollar appreciated about 0.55% in value against the US Dollar on Tuesday. The surge was stopped by a resistance level formed by the 100– hour simple moving average at 0.6865 during yesterday’s trading session.

Wednesday’s trading session began with bearish momentum. As a result, a breakout occurred through the lower boundary of a dominant ascending channel pattern at 0.6845.

Given that a breakout had occurred, the AUD/USD currency exchange rate will most likely target a support level set by the weekly S2 at 0.6812 during the following trading session.

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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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