On Friday, the Australian Dollar declined by 61 pips or 0.82% against the US Dollar. The AUD/USD currency pair breached the 50– and 200– hour SMAs during Friday’s trading session.
Technical indicators suggest selling signals on the 4H time-frame chart. Most likely, sellers could continue to drive the exchange rate lower during the following trading session.
However, the lower line of a descending channel pattern could provide support for the currency exchange rate within this session.
