The Australian Dollar traded sideways against the US Dollar on Friday. The currency pair was moving within the range of 0.7328 and 0.7308 during Friday’s trading session.
However, the Aussie began today’s session with 45 base points profits against the Greenback. Also, a breakout occurred through the upper boundary of a medium-term descending channel during the Asian session.
Given that a breakout had occurred, it is likely that the AUD/USD currency exchange rate continues its upside movement today. The currency pair could aim for the upper boundary of a junior ascending channel at 0.7415
