During the first half of Wednesday’s trading session, the Australian Dollar declined by 59 pips or 0.81% against the US Dollar. However, the currency pair rebounded from the low level of 0.7230 at the end of the session.
Everything being equal, the exchange rate could continue to trend bullish in an ascending channel pattern during the following trading session. The potential target for buyers will be near the 0.7340 area.
Although, the currency exchange rate could encounter resistance at 0.7300 within this session.
