The Australian Dollar declined by 62 points or 0.90% against the US Dollar on Thursday. The currency pair was pressured lower by the 50– and 100– hour SMAs during Thursday’s trading session.
All things being equal, the AUD/USD exchange rate could continue to decline during the following trading session. The potential target for bearish traders would be at the 0.6800 area.
On the other hand, the currency exchange rate could breach the 50– and 100– hour SMAs and target the upper line of a descending channel pattern within this session.
