The Australian Dollar fell by 105 pips or 1.34% against the US Dollar on Thursday. The decline was stopped by the 200– hour simple moving average during yesterday’s trading session.
The exchange rate bounced off the 200– hour SMA support level during the morning hours on Friday. Most likely, the AUD/USD pair will edge higher during the following trading session.
However, the 50– hour moving average at 0.7768 could provide resistance for the currency exchange rate in the shorter term.
