The Australian Dollar declined by 85 basis points or 1.35% against the US Dollar on Tuesday. The currency pair tested the weekly support level at 0.6267 during Tuesday’s trading session.
The exchange rate bounced off from the weekly S1 at 0.6267 on Wednesday morning. Most likely, the AUD/USD pair will continue to edge higher during the following trading session.
But, the resistance cluster at 0.6356 could provide resistance for the currency exchange rate within the coming hours.
