Thu, Oct 06, 2022 @ 11:21 GMT
HomeContributorsTechnical AnalysisAUD/USD Remains Near 0.6050

AUD/USD Remains Near 0.6050

The Australian Dollar declined by 88 pips or 1.45% in value against the US Dollar on Friday. The currency pair was pressured lower by the 50– hour simple moving average during Friday’s trading session.

Currently, the exchange rate is testing a resistance level formed by the 50– hour SMA at 0.6039.

If the resistance level holds, the AUD/USD pair would continue to decline within this session.

However, if the currency exchange rate breaks the 50– hour SMA, a surge towards the 0.6100 could be expected today.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Group
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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