Downside risks dominated the Australian Dollar against the US Dollar on Friday. As a result, the AUD/USD currency pair declined by 155 pips or 1.97% during Friday’s trading session.
Given that a breakout has occurred through the lower boundary of an ascending channel pattern, bearish traders are likely to pressure the exchange rate lower within this session.
Although, the currency exchange rate might make a brief retracement towards the 0.7850 level today.
