HomeContributorsTechnical AnalysisAUD/USD Could Make Brief Retracement

AUD/USD Could Make Brief Retracement

The Australian Dollar surged by 121 basis points or 1.78% against the US Dollar on Tuesday. The currency pair breached the psychological resistance level at 0.6900 on Wednesday morning.

As for the next trading session, the AUD/USD exchange rate could continue to trade bullish. The potential target for bullish traders could be at the resistance level at 0.7000 mark.

However, the currency exchange rate could make a U-turn from the current price level at 0.6938 and aim for the 50– hour simple moving average at 0.6828 within the following trading session.

Dukascopy Swiss FX Group
Dukascopy Swiss FX Grouphttp://www.dukascopy.com/
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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