The Australian Dollar reached a five-week high against the US Dollar during Friday’s trading session. The currency pair was pressured by the 50– hour simple moving average on Monday.
As for the near future, if the AUD/USD exchange rate breaches the five weeks high level at 0.6885, bullish traders will likely continue to dominate the pair in the nearest future.
However, from a technical viewpoint, the currency exchange rate could make a pullback towards the weekly pivot point at 0.6811 during the following trading hours.
