During Friday’s trading session, the Australian Dollar declined by 21 pips or 0.31% in value against the US Dollar. The currency pair tested the weekly pivot point at 0.6708 during the previous session.
All things being equal, the AUD/USD exchange rate could aim for a resistance level formed by the weekly R1 at 0.6752.
However, given that the currency exchange rate is currently trading near the lower boundary of an ascending channel pattern, a breakout could occur within the following trading session.
