The Australian Dollar declined by 67 pips or 1.00% in value against the US Dollar on Friday. The currency pair hit 2020 low level at 0.6663 during Friday’s trading session.
The exchange rate tested the weekly pivot point at 0.6792 during the morning hours of today’s session.
If the resistance level holds, the AUD/USD pair could continue to edge lower within the following trading session.
However, if the currency exchange rate breaks the weekly PP, a surge towards the weekly R1 at 0.6742 today.
