On Friday, the Australian Dollar edged higher by 62 pips or 0.84% against the US Dollar. The currency pair tested the upper line of an ascending channel pattern at 0.7464 during Friday’s trading session.
Everything being equal, the AUD/USD exchange rate is likely to continue to trend bullish during the following trading session. The potential target for bulls would be near the 0.7520 level.
However, the upper boundary of the channel pattern could provide resistance for the currency exchange rate within this session.
