The Australian Dollar appreciated by 46 basis points against the US Dollar on Thursday. The currency pair breached December 16 swing high at 0.6897 during Friday’s trading session.
As for the near future, the AUD/USD exchange rate will likely continue to trade in an ascending channel pattern. Bullish traders could drive the price towards the weekly R1 at 0.6940.
Furthermore, technical indicators demonstrate that bulls are in control of the currency exchange rate and will continue to dominate the market during the following trading session.
