AUDUSD pair was trading in a relatively tight range around 0.7770 during the European session, however bears became active during the American trading hours and pushed the pair to a fresh weekly lows. It seems that month-end flows and today's macroeconomic data releases strengthened US currency. The US Dollar Index reached its highest level since April 23 at 91.28.
AUDUSD pair broke below the lower limit of the triangle pattern and is testing local support at 0.7705. Should break lower occur, then the next target for bears lies at 0.7654. On the other hand, if buyers will manage to halt declines here, then another upward impulse towards resistance at 0.7757 may be launched. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
