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AUD/USD Bears Could Prevail

Downside risks have dominated the Australian Dollar lower against the US Dollar since Friday’s trading session. The currency pair has declined by 107 points or 1.48% during this period.

Most likely, bears are likely to continue to pressure the exchange rate lower during the following trading session. The potential target for the AUD/USD pair will be at the 0.7081 level.

A possible upside reversal could occur from a support cluster formed by the weekly pivot point and the weekly S1 near the 0.7076 area within this session.

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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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