AUD/USD poised to decline

Bears dominated the Australian Dollar against the US Dollar on Friday. This downward movement began after the currency pair reached near the 100-hour simple moving average at 0.7424.

Technical indicators demonstrate bearish signals to continue today. However, when you look at the setting of the three SMAs which is now located above the price action, the exchange rate could continue to decline further south during the following trading sessions. 

Meanwhile, it is expected that the AUD/USD currency exchange rate maintains the junior descending channel for the rest of the day.


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