The Australian Dollar depreciated about 100 basis points against the US Dollar on Tuesday. The decline began after a negative macroeconomic data releases from Australian.

As for the near future, the AUD/USD currency pair will most likely continue to fall. The potential target for bearish traders would be near the weekly S1 at 0.6659.

If the support level holds, a brief upside retracement could occur during the following trading session.

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However, if the currency exchange rate passes the weekly S1, the next target for bears would be at the 0.6634 area.


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