The Australian Dollar has declined by 97 pips or 1.25% against the US Dollar since Friday’s trading session. The currency pair breached the 200– hour simple moving average at 0.7712 on Monday morning.
All things being equal, the AUD/USD exchange rate could continue to edge lower during the following trading session. The potential target for bears would be near the 0.7640 level.
However, the weekly support level at 0.7660 could provide support for the currency exchange rate within this session.
