The Australian Dollar consolidated against the US Dollar on Friday. The AUD/USD currency pair traded below the 0.7100 level during Friday’s trading session.
Technical indicators flash selling signals on the daily time-frame chart. Most likely, the bears could pressure the exchange rate lower within this session. The potential target for bearish traders would be at the 0.7040 area.
On the other hand, the 50– hour simple moving average at 0.7086 could provide support for the currency exchange rate and drive the price higher during the following trading session.
