The Australian Dollar depreciated about 41 base points against the US Dollar on Wednesday. The currency pair breached a support level formed by the weekly S2 at 0.6918 during yesterday’s session.
By and large, the AUD/USD exchange rate is likely to continue its downside movement today. Bears could target a support cluster set by the weekly and the monthly pivot points at 0.6874.
Although, the currency exchange rate could make an upside movement today and aim for a mini swing high of 0.6959 during the following trading session.
