The Australian Dollar has depreciated by 46 basis points against the US Dollar since yesterday’s trading session. The currency pair breached the weekly S1 at 0.6721 during the morning hours of Friday’s trading session.
The exchange rate will most likely continue to trade south within this session. Bearish traders would likely surpass a support level formed by the weekly S2 at 0.6698 today.
However, if the support level holds, a potential upside reversal could follow within the next trading session.
