The Australian Dollar surged by 114 pips or 1.81% against the US Dollar on Thursday. The 200– hour simple moving average provided support for the exchange rate during yesterday’s trading session.
Everything being equal, the AUD/USD currency pair could decline within this session. A potential breakout through the lower boundary of an ascending channel pattern could occur.
However, a support level formed by the 200– hour simple moving average could provide support for the currency exchange rate during the following trading session.
