The Australian Dollar appreciated about 34 basis points against the US Dollar on Friday. The exchange rate pierced the 100– hour simple moving average during Friday’s trading session.
Currently, the 50– hour SMA is providing resistance for the AUD/USD currency pair at 0.6757. If the resistance level holds, bearish traders would continue to dominate the currency exchange rate within this session.
However, if the pair passes the 50– hour moving average, a surge towards a resistance level formed by the 200-hour SMA at 0.6781 could be expected.
