The Australian Dollar versus the US Dollar remained stable on Wednesday. The currency pair was trading below the weekly resistance level at 0.7177 during the previous trading session.
However, the exchange rate began Thursday’s trading session with a strong downside movement. The AUD/USD pair depreciated about 120 base points during the first half of the trading session.
Everything being equal, it is likely that the currency exchange rate regains some of its lost points today.
The potential upside target will be near the 50-hour simple moving average at 0.7151.
