AUD/USD analysis: Breakout occurs
AUD/USD
The Australian Dollar has declined by 80 basis points or 1.22% against the US Dollar since Thursday's trading session. A breakout occurred through the lower boundary of an ascending channel pattern on Thursday.
Given that a breakout had occurred, the AUD/USD currency pair would continue to decline within this session. The potential would be near the weekly pivot point at the 0.6450 area.
However, the 200– hour simple moving average at 0.6499 could provide support for the currency exchange rate during the following trading session.
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