The Australian Dollar rose by 54 pips or 0.71% against the US Dollar on Thursday. The surge was stopped by a resistance line at the 0.7660 level during yesterday’s trading session.
The AUD/USD exchange rate reversed from the 0.7660 area during the Asian session on Friday. A breakout occurs through the lower boundary of an ascending channel pattern.
However, a support level at 0.7606 could provide support for the currency exchange rate within this session.
