The Australian Dollar has shown high volatility against US Dollar on Thursday, during this period, the currency pair fell below the junior channel and the dominant ascending channel.
This high volatility continued on Friday, as bears erased all the gains made by bulls during the period week. Technical indicators demonstrate that the overall market sentiment within the next trading session should remain bearish.
Given that the AUD/USD currency exchange rate is located in the oversold zone, the pair might make a brief retracement up for a potential target at the weekly pivot point near 0.7350 today.
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