The Australian Dollar declined by 102 pips or 1.31% against the US Dollar on Thursday. The AUD/USD currency pair breached the 0.7650 level during yesterday’s trading session.
Everything being equal, the exchange rate is likely to continue to trend bearish during the following trading session. The potential target for sellers will be near the 0.7620 level.
However, the currency exchange rate could rebound from the support level at 0.7650 and target the 50– hour simple moving average at 0.7713 within this session.
