The Australian Dollar has depreciated by 48 basis points against the US Dollar since Wednesday’s trading session. The currency pair is currently trading in a descending channel pattern.
All things being equal, the AUD/USD exchange rate will most likely continue to trade in the channel pattern during the following trading session. The potential target for bearish traders would be near the psychological level at 0.6700.
Moreover, technical indicators suggest that the currency exchange rate could still slide lower within this session.
