The Australian Dollar depreciated about 0.43% in value against the US Dollar on Tuesday. The exchange rate breached the weekly R1 at 0.7143 during Tuesday’s trading session. However, Wednesday’s trading session began with an upside sentiment.
The 200– hour simple moving average was providing support for the currency pair at 0.7110 on Wednesday.
By and large, it is likely that the AUD/USD currency exchange rate will continue its upside momentum within this session. The potential target for the pair will be near a resistance cluster at 0.7177.
