The Australian Dollar edged higher by 65 basis points or 0.90% against the US Dollar on Friday. The currency pair breached a resistance cluster at 0.7192 during Friday’s trading session.
All things being equal, the AUD/USD pair will most likely continue to trend bullish during the following trading session. The potential target for bulls would be near the 0.7300 level.
However, the currency exchange rate is expected to make a brief pullback towards a support cluster formed by the weekly and the monthly PPs and the 50– hour simple moving average at 0.7192 within this session.
