The Australian Dollar has appreciated about 17 basis points against the US Dollar since yesterday’s trading session. The currency pair breached the upper boundary of a junior descending channel at 0.6773 during the Asian session on Friday.
As for today’s trading session, the AUD/USD exchange rate will likely continue to edge higher. The pair could target a resistance level formed by the 200– hour simple moving average at 0.6789.
However, the 100– hour SMA at 0.6776 could prevent bullish traders from pushing the currency exchange rate higher during the following trading session.
