The Australian Dollar rose by 49 basis points or 0.66% against the US Dollar on Thursday. The currency pair breached the weekly resistance level at 0.7493 during Thursday’s trading session.
By and large, the exchange rate is likely to continue to edge higher during the following trading session. The potential target for the AUD/USD pair would be at the weekly resistance level at 0.7480.
However, given that the currency exchange rate has breached a support line at 0.7426, a decline towards the 0.7380 level could be expected today.
