The Australian Dollar declined by 48 pips or 0.69% against the US Dollar on Friday. The currency pair was pressured lower by the 200– hour simple moving average during Friday’s trading session.
The exchange rate broke the descending channel pattern during the morning hours of Monday’s trading session. Most likely, the AUD/USD pair will target the 0.6920 level today.
However, a resistance cluster at 0.6882 could provide resistance for the currency exchange rate during the following trading session
