The AUD/USD currency pair bounced off a support level at 0.7222 on Thursday. As a result, the Australian Dollar edged higher by 91 pips or 1.26% against the US Dollar during Thursday's trading session.
Everything being equal, the exchange rate could continue to trend higher within the following trading session. The potential target for buyers would be near the 0.7340 level.
On the other hand, the currency exchange rate could reverse from the current price level at 0.7299 and target the 50– hour SMA at 0.7266 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.