The Australian Dollar appreciated about 0.38% in value against the US Dollar during the first half of Wednesday’s trading session. Though, the currency pair erased the earlier gain at the end of yesterday’s trading.
Bearish momentum dominated the first part of today’s trading session. A breakout occurred through the lower boundary of an ascending channel pattern at 0.6775 during the European session on Thursday.
The currency exchange rate will most likely continue to trade downward today. However, AUD/USD needs to break the monthly support level, which is currently providing support for the pair at 0.6759.
