The Australian Dollar has declined by 64 pips or 0.92% against the US Dollar since yesterday’s trading session. The currency pair broke the ascending channel pattern during yesterday’s trading session.

All things being equal, the exchange rate is expected to make a pullback towards the 50– and 100– hour simple moving averages at 0.6962 within the following trading session.

However, the currency exchange rate could encounter a resistance level formed by the 200– hour SMA at 0.6936 today.

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