The Australian Dollar fell by 58 pips or 0.74% against the US Dollar on Thursday. The currency pair breached the 50– and 200– hour SMAs during Thursday's trading session.

The exchange rate bounced off a support level at 0.7706 during the Asian session on Friday. Most likely, buyers could continue to pressure the AUD/USD pair higher within this session.

However, the upper line of a descending channel pattern and the 50– hour simple moving average near the 0.7731 area could provide resistance for the currency exchange rate within this session.

This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.

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