Downside risks pressured the Australian Dollar lower against the US Dollar on Wednesday. The exchange rate declined by 54 pips or 0.70% during Wednesday’s trading session.
Technical indicators flash selling signals on the 4H time-frame chart. Most likely, the AUD/USD currency pair could continue to edge lower during the following trading session.
However, the currency exchange rate might make a brief pullback towards the 0.7780 level within this session.
