During yesterday’s trading session, the Australian Dollar depreciated about 44 base points against the US Dollar. The currency pair breached a support cluster formed by the weekly and the monthly PPs at 0.6958 on Monday.
Technical indicators flash sell signals on both the smaller and the larger time frames. Therefore, the AUD/USD exchange rate could continue its southern movement within this session.
However, the currency exchange rate might reverse from the current price level at 0.6943 and aim for a resistance line set by the 50-hour simple moving average at 0.6975 during the following trading session
