The Australian Dollar depreciated about 40 basis points against the US Dollar on Friday. The currency pair is currently stranded between the simple moving averages.
The 100-hour SMA was providing support for the pair at 0.6780, while the 50– and 200– hour SMAs are providing resistance for the rate during the morning hours of today’s trading session.
Everything being equal, it is likely that the exchange rate will aim for the weekly S1 at 0.6703 during the following trading session.
However, a support cluster near the 0.6759 could provide support for the currency exchange rate today.
