The Australian Dollar declined by 43 pips or 0.56% against the US Dollar on Friday. The AUD/USD currency pair breached the 50– and 200– hour SMAs during Friday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders will be near the 0.7640 level.
However, the weekly S1 at 0.7674 could provide support for the currency exchange rate within the following trading session.
