The Australian Dollar fell by 95 pips or 1.25% against the US Dollar on Thursday. The AUD/USD currency pair breached a support level at 0.7540 during Thursday’s trading session.
All things being equal, the exchange rate could continue to edge lower during the following trading session. The potential target for bearish traders would be near the 0.7450 area.
However, the currency exchange rate might bounce off the support line at 0.7544 within this session.