AUD/USD Could Edge Up

During the first half of Friday’s trading session, the Australian Dollar surged by 0.51% against the US Dollar. However, the currency pair erased the earlier gains at the end of the day.

Given that the exchange rate has bounced off a support level formed by the 50– hour simple moving average at 0.7305, bullish traders could drive the AUD/USD pair higher during the following trading session.

But, the resistance level at 0.7327 could provide resistance for the currency exchange rate within this 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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