The Australian Dollar is gradually edging up in a junior ascending channel pattern against the US Dollar. The currency pair tested the weekly resistance level at 0.6742 during yesterday’s trading session.
Everything being equal, the exchange rate will most likely maintain the junior ascending channel pattern. The AUD/USD pair could target the 0.6760 area within this session.
However, given that the currency exchange rate is currently trading near the bottom border of the junior descending channel, a breakout could occur within the following trading session.