The Australian Dollar declined by 46 pips or 0.59% against the US Dollar on Wednesday. The decline was stopped by the weekly pivot point at 0.7727 during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate could continue to edge lower during the following trading session. Bearish traders are likely to target the weekly S1 at 0.7682.
However, the 200– hour simple moving average at 0.7752 could provide support for the currency exchange rate within this session.
