Thu, Feb 25, 2021 @ 10:00 GMT
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AUD/USD Supported By 50-Hour SMA

The Australian Dollar has surged by 61 points or 0.79% against the US Dollar on Tuesday. The currency pair was supported by the 50– hour simple moving average during yesterday’s trading session.

All things being equal, the AUD/USD exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the weekly R1 at 0.7780.

However, a resistance line at 0.7760 could provide a barrier for the currency exchange rate within this session.

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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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