During the past 24 hours, the Australian Dollar has depreciated about 44 basis points against the US Dollar. The currency pair breached the lower boundary of an ascending channel pattern during yesterday’s trading session.
Given that a breakout had occurred, the AUD/USD exchange rate will most likely continue to fall within this session. The potential target will be at the weekly S1 at the 0.6768 area.
The currency exchange rate could make an upside reversal from the weekly S1 during the following trading session.
