Upside risks dominated the Australian Dollar higher against the US Dollar on Friday. The AUD/USD exchange rate surged by 114 basis points or 1.58% during Friday’s trading session.
Bullish traders could continue to pressure the currency pair higher during the following trading session. A breakout through the upper boundary of an ascending channel pattern may occur.
However, the currency exchange rate is likely to make a brief retracement towards the 0.7300 level within this session.
