The Australian Dollar declined by 35 pips or 0.48% against the US Dollar on Friday. The currency pair tested the lower boundary of an ascending channel pattern at 0.7146 during Friday’s trading session.
All things being equal, the exchange could edge up during the following trading session. The potential target for bulls would be near the 0.7220 level.
However, the weekly pivot point at 0.7192 could provide resistance for the currency exchange rate in the shorter term.
Meanwhile, technical indicators demonstrate that the price might move sideways within this session.
