The 100– hour simple moving average guided the Australian Dollar against the US Dollar on Friday. The AUD/USD currency pair tested the 0.7300 level during Friday’s trading session.
All things being equal, the exchange rate could edge higher during the following trading session. A breakout could occur through the upper boundary of a descending channel pattern.
On the other hand, bears might come into play and push the currency exchange rate towards the 0.7220 area within this session.
