The Australian Dollar depreciated about 76 base points against the US Dollar on Friday. The decline was stopped by the lower boundary of an ascending channel pattern at 0.7160.
Everything being equal, it is likely that the currency exchange rate regains some of its lost points within this session. The potential upside target will be near the monthly resistance level at 0.7244.
However, the 50-and 100-hour simple moving averages at 0.7205 could prevent the AUD/USD currency pair from reaching the given target today.
