On Friday, the Australian Dollar fell by 31 pips or 0.42% against the US Dollar. The AUD/USD currency pair breached the 50– hour simple moving average during Friday’s trading session.
All things being equal, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for sellers will be near the weekly S1 at 9.7298.
However, the currency exchange rate might reverse from the weekly pivot point at 0.7353 within this session.