AUD/USD extends its losses for the second consecutive day, trading around 0.6650 during the European hours on Monday.
AUD/USD price tests the lower boundary of the descending channel around the level of 0.6440. The 14-day RSI breaks below the 50 level, confirming the ongoing bearish trend for the pair. The immediate barrier appears at the 50-day EMA at 0.6675 level. The daily chart analysis shows that the pair is trekking down along the lower boundary of the descending channel, suggesting the reinforcing of a bearish bias.
A breakthrough above the latter could weaken the bearish bias and support the AUD/USD pair to test the upper boundary of the descending channel around the 0.6750 level. A breach above the descending channel could extend the upside and lead the pair to explore the region around its seven-month high of 0.6798, reached on July 11. AUD/USD: Daily Chart Australian Dollar PRICE Today The table below shows the percentage change of Australian Dollar against listed major currencies today.
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