Bullish momentum dominated the Australian Dollar versus the US Dollar on Thursday. The currency pair appreciated about 60 basis points during yesterday's trading session.
The exchange rate is currently trading near the monthly pivot point at 0.6776 during the morning hours of Friday's trading session.
If the currency exchange rate breaks the monthly PP, the next target for bullish traders would be at the 0.6804 mark.
However, if the resistance level, set by the monthly pivot point holds, a brief retracement towards the 0.6748 area within this session.
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