The Australian Dollar surged by 91 basis points or 1.32% against the US Dollar on Thursday. The currency pair was guided by the 50– hour simple moving average during yesterday’s trading session.
Given that the AUD/USD exchange rate is currently trading near the upper boundary of an ascending channel pattern, a breakout could occur within the following trading session.
However, Friday’s macroeconomic data releases could play an important roll in the overall movement for the currency exchange rate.
