The Australian Dollar declined by 163 pips or 2.33% against the US Dollar on Thursday. The currency pair tested the lower boundary of an ascending channel pattern at 0.6827 during Thursday’s trading session.
The exchange rate bounced off the bottom border of the ascending channel during the Asian session on Friday. Most likely, the AUD/USD pair will continue to edge higher today.
However, the resistance cluster at 0.6875 could provide support for the currency exchange rate during the following trading session
