AUD/USD Could Make Pullback

The Australian Dollar declined 31 pips or 0.41% against the US Dollar on Thursday. The currency pair breached the weekly support level at 0.7611 during yesterday’s trading session.

The AUD/USD exchange rate is likely to make a brief pullback towards a resistance level at 0.7674 during the following trading session.

However, if the currency exchange rate breaks a support line formed by the 50– hour simple moving average at 0.7597, bearish traders could target the 0.7520 level within this session.