The Australian Dollar declined by 65 pips or 0.89% against the US Dollar on Thursday. The currency pair breached a support cluster formed by the weekly and the monthly PPs at 0.7284 during Thursday’s trading session.
All things being equal, the exchange rate could continue to decline. Bearish traders are likely to target the weekly support level at 0.7214 during the following trading session.
However, the currency exchange rate might slide a bit higher towards the 0.7341 area within this session.
