During the first half of yesterday’ trading session, the Australian Dollar surged by 77 pips or 0.98% against the US Dollar. However, the currency pair lost the earlier gains at the end of the day.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders would be at the 0.7200 level.
Though, the 50– hour simple moving average at 0.7279 could provide support for the currency exchange rate in the shorter term.
