The Australian Dollar declined by 72 pips or 1.11% against the US Dollar on Wednesday. The currency pair was pressured south by the 100– hour simple moving average during yesterday’s trading session.
Thursday’s session began with a bullish momentum, and by the middle of the day, the AUD/USD exchange rate has surged by 1.28%.
Everything being equal, bullish traders could continue to pressure the price higher within this session.
However, the 200– hour SMA at 0.6462 could provide resistance for the currency exchange rate during the following trading session.
