During the last 48 hours, the Australian Dollar has depreciated about 0.73% in values against the US Dollar. The currency pair breached the 50-, 100– and 200-hour SMAs during Tuesday’s trading session.
However, today’s trading session began with an upside movement. By the middle of the day, the exchange rate has dashed through the 100– and 200-hour simple moving averages and currently aiming for the 50-hour SMA at 0.7095.
Meanwhile, Wednesday’s US macroeconomic data releases might add more pressure to the currency exchange rate.
