The Australian Dollar has declined by 78 points or 1.09% against the US Dollar since yesterday’s trading session. The currency pair breached a support cluster at the 0.7094 level on Friday morning.
All thing being equal, the AUD/USD exchange rate could continue to decline within the following trading session. The potential target will be near the weekly support level at 0.7047.
On the other hand, the currency exchange rate could reverse from the 100– hour SMA at 0.7094 and make some upside movement today.
