The Australian Dollar surged by 120 basis points or 1.85% against the US Dollar on Thursday. The currency pair breached the 200– hour simple moving average during yesterday’s trading session.
Everything being equal, the exchange rate could make a downward move within this session. The potential target for the AUD/USD pair could be near the monthly pivot point at 0.6455.
Although, Friday’s macroeconomic data releases could play an important roll in the overall movement for the currency exchange rate.
