The Australian Dollar fell by 80 pips or 1.02% against the US Dollar on April 30. The currency pair breached the 50– and 200– hour simple moving averages during Friday’s trading session.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, the exchange rate could continue to trend downward during the following trading session.
However, a support level at 0.7706 could provide support for the AUD/USD currency exchange rate within this session.
