The Australian Dollar depreciated about 33 base points against the US Dollar on Tuesday. The currency pair was pressured down by the 50-hour simple moving average during yesterday’s trading session.
As for the near future, it is likely that the Aussie will continue its southern movement against the Greenback. Bears could target a support cluster at 0.6864 in the shorter term.
However, the AUD/USD currency exchange rate is expected to aim for a re-test of the resistance cluster formed by the combination of the weekly, the monthly PPs and the 50-hour SMA at 0.6950 today.
