The Australian Dollar has plunged by 339 basis points or 5.10% in value against the US Dollar since Friday’s trading session. However, the currency pair regained some of its lost points on Monday morning.
As for the near future, the exchange rate could slightly edge higher. The potential target for the AUD/USD pair will be at the 0.6650 area.
Although, a resistance cluster formed by the 50-, 100– and 200– hour simple moving averages located near the 0.6574 could provide resistance for the currency exchange rate within the following trading sessions.
