The Australian Dollar depreciated about 30 basis points against the US Dollar on Thursday. The currency pair was pressured down by the 50– and 100– hour simple moving averages during yesterday’s trading session.
It is unlikely, that some upside potential could prevail in the market, as the currency pair is pressured by the 50-, 100– and 200-hour SMAs. The AUD/USD pair could decline lower than the 0.6768 level within the following trading session.
However, if the resistance levels, formed by the 50-, 100– and 200- hour simple moving averages hold, the Aussie could make some gains in the short run.
