The Australian Dollar traded with low volatility against the US Dollar on Thursday. The currency pair was moving along the 50– and 200-hour SMAs during Thursday’s trading session.
The exchange rate was bouncing between the 38.20 % and 23.60% Fibonacci retracement level during the morning hours of Friday’s session. This retracement can be measured by connecting the November 16 high level at 0.7340 and the low mark of 0.7204.
It is likely that the currency exchange rate will continue bouncing between yesterday’s trading range within this session, as technical indicators flash mixed signals.
