The Australian Dollar declined by 66 pips or 0.86% against the US Dollar on Wednesday. The AUD/USD currency pair tested the 0.7600 level during Wednesday’s trading session.
The exchange rate bounced off a support line at 0.7606 during the Asian session on Thursday. Most likely, the currency exchange rate could edge higher during the following trading session.
However, the 50– hour simple moving average at 0.7635 could provide resistance for buyers within this session.
