On Thursday, the Australian Dollar rose by 52 pips or 0.70% against the US Dollar. The currency pair tested the upper boundary of an ascending channel pattern during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate could continue to edge higher during the following trading session. The potential target for buyers will be near the 0.7480 level.
However, the upper line of an ascending channel pattern could provide resistance for the currency exchange rate within this session.
