The Australian Dollar surged by 59 basis points or 0.94% against the US Dollar on Friday. The 50– hour simple moving average provided support for the currency pair at 0.6321 during Friday’s trading session.
Currently, the AUD/USD exchange rate is trading near the lower boundary of an ascending channel pattern at 0.6352. Most likely, a breakout could occur within this session.
Although, the 50– hour SMA at 0.6334 could still provide support for the currency exchange rate during the following trading session.
