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AUD/USD Two Scenarios Likely

The Australian Dollar has surged by 44 points or 0.60% against the US Dollar since Thursday’s trading session. The AUD/USD currency pair tested the 100– hour SMA on Friday morning.

If the resistance level formed by the 100– hour simple moving average at 0.7298 holds, bearish traders would target the 0.7260 level during the following trading session.

However, if the currency exchange rate breaks the resistance line, a surge towards the 0.7320 level could be expected today.

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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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