During Wednesday’s trading session, the AUD/USD currency pair continued to trend lower in a descending channel pattern. The currency pair traded above the support level at 0.7227 on Wednesday.
If the support line at 0.7727 holds, bullish traders might pressure the Australian Dollar higher against the US Dollar within this session. The potential price target for buyers would be near the 0.7280 level.
However, if the currency exchange rate breaks the support level, a decline towards the 0.7180 regions could be expected during the following trading session.
