On Tuesday, the Australian Dollar declined by 65 pips or 0.87% against the US Dollar. The currency pair was pressured lower by the 50– and 200– hour SMAs during Tuesday’s trading session.
Technical indicators flash bearish signals on the 4H and daily time-frame charts. Most likely, the exchange rate could continue to edge lower during the following trading session.
However, the weekly support level at 0.7400 could provide support for the AUD/USD currency exchange rate within this session.
