The 100-hour simple moving average guided the Australian Dollar versus the US Dollar on Thursday. The currency pair appreciated about 31 base points during yesterday’s trading session.
Given that the exchange rate has breached both the 50– and 100-hour SMAs at 0.6977, it is likely that the pair will aim for a support level formed by the 200-hour simple moving average at 0.6950 within this session.
However, today’s macroeconomic data releases scheduled at 12:30 GMT could play a significant role in the overall positioning of the currency exchange rate during the following trading session.
