The Australian dollar rose by 63 basis points or 0.99% against the US dollar on Thursday. The currency pair tested the 200-hour simple moving average of 0.6469 during Thursday’s session.
All in all, the AUD / USD exchange rate is likely to maintain the declining channel pattern. A decrease towards the weekly support level of 0.6419 could be expected today.
However, given that the exchange rate is currently trading near the top line of the falling channel, a breakout may occur during the following trading session.