The Australian Dollar declined by 72 pips or 0.94% against the US Dollar on Tuesday. The currency pair breached the 50– hour simple moving average during yesterday’s trading session.
All things being equal, the AUD/USD currency exchange rate could continue to edge lower during the following trading session. Sellers are likely to target the weekly support level at 0.7540.
A potential upside reversal could occur from the weekly S1 at 0.7540 within this session.
