The Australian Dollar declined by 30 pips or 0.39% against the US Dollar on Friday. The 50- hour simple moving average provided support for the currency pair during Friday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for the AUD/USD pair would be near the 0.7540 area.
However, the 50- hour SMA at 0.7586 could still provide support for the currency exchange rate during the following trading session.
