The Australian Dollar surged by 0.52% in value against the US Dollar during the morning hours of trading on Thursday after data showed that the country’s unemployment rate has fallen. A breakout occurred through the upper boundary of a descending channel pattern during the Asian trading session.
Given that a breakout had occurred, the AUD/USD currency pair will continue to surge today. The potential target will be at the 0.6920 area.
Although, technical indicators suggest that bearish traders might control the currency exchange rate during the following trading session.
