AUD/USD Aims For Swing High At 0.7143

Technical analysis of Forex market

During the last 24 hours, the Australian Dollar versus the US Dollar has gained about 0.93% in value. The weekly S2 at 0.7058 provided support for the currency pair during yesterday’s trading session.

Technical indicators suggest that the AUD/USD exchange rate could edge lower within this session.

However, given that the currency exchange rate has breached both the 50-, 100– and 200-hour simple moving averages at 0.7099, it is likely that bullish traders will for a swing high of 0.7143 during the following trading session.

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