AUDUSD Analysis: Potential breakout

AUDUSD Analysis: Potential breakout

AUDUSD

The Australian Dollar traded with high volatility against the US Dollar on Thursday. The pair began to strengthen after its reversed from the lower boundary of an ascending channel.

By the middle of the European trading session on Friday, the exchange rate had moved closer to the upper boundary of a junior ascending channel and could be prepared for a breakout within this session.

Given that the 55- and the 100-hour SMAs has fallen below the price, it is likely that the AUD/USD currency exchange rate continue moving upward during the following trading session.

AUDUSD

AUDUSD

The Australian Dollar traded with high volatility against the US Dollar on Thursday. The pair began to strengthen after its reversed from the lower boundary of an ascending channel.

By the middle of the European trading session on Friday, the exchange rate had moved closer to the upper boundary of a junior ascending channel and could be prepared for a breakout within this session.

Given that the 55- and the 100-hour SMAs has fallen below the price, it is likely that the AUD/USD currency exchange rate continue moving upward during the following trading session.

AUDUSD