During the first half of Tuesday’s session, the Australian Dollar appreciated about 50 basis points against the US Dollar. However, the currency pair surrendered the gain by the end of the trading session.
Given that the exchange rate has breached the 50– and 100– hour SMAs, a surge towards the 0.6940 area might follow.
Technical indicators demonstrate that the currency exchange rate might continue to decline in during the following trading session.
Although, the 200– hour simple moving average at 0.6875 could provide support for the pair in the nearest future.
