The Australian Dollar appreciated by about 48 basis points against the US Dollar on Thursday. The currency pair tested a psychological resistance level at the 0.6910 area during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate will likely maintain a junior descending channel pattern within this session. Bearish traders could target the 0.6850 region.
Furthermore, technical signals support the currency exchange rate to continue its decline in the nearest future.
