The Australian Dollar depreciated by 33 basis points against the US Dollar on Thursday. The currency pair tested the lower boundary of an ascending channel pattern at 0.6821 during Thursday’s trading session.
As for the near future, the AUD/USD exchange rate will most likely continue to ascend in the channel pattern. The pair might aim for the weekly R1 at 0.6873 within the following trading session.
On the other hand, the currency exchange rate could make a U-turn from the current price level at 0.6839 and target a support cluster formed by the combination of the weekly R2 and the monthly PP at 0.6813 today.