The Australian Dollar declined by 61 pips or 0.89% in value against the US Dollar on Monday. The 50– hour simple moving average pressured the currency pair lower during yesterday’s trading session.
As for the near future, the AUD/USD exchange rate could continue its downward movement.
The possible target for bearish traders would be near the weekly S3 at the 0.6723 regions.
Furthermore, technical indicators demonstrate that the currency exchange rate will most likely continue its downside momentum within this session.
