During Friday’s session, the Australian Dollar fell by 67 pips or 0.87% against the US Dollar. The 50– hour simple moving average pressured the currency pair lower on Friday.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, the AUD/USD exchange rate could continue to decline in a descending channel pattern during the following trading session.
However, the weekly support level at 0.7589 could provide support for the currency exchange rate within this session.
