The Australian Dollar has continued its upside momentum against the US Dollar on Wednesday. The currency pair edged higher by about 78 basis points during the previous session.
In regarding the near future, the AUD/USD exchange rate could make a brief retracement towards a support cluster formed by the combination of the weekly R1 and the monthly R1 at 0.6866 today.
However, technical indicators suggest bullish signals on both the smaller and larger time frame charts. Therefore, the exchange rate will most likely edge higher within this trading session.
