The Australian Dollar declined by 112 pips or 1.53% against the US Dollar on Tuesday. The currency pair tested the weekly support level at 0.7197 during yesterday’s trading session.
Everything being equal, the exchange rate will most likely continue to edge lower during the following trading session. The possible target for bears would be at the 0.7160 area.
However, the weekly support level at 0.7197 could provide support for the currency exchange rate within this session.
