The Australian Dollar surged by 39 pips or 0.58% in value against the US Dollar on Tuesday. The currency pair breached both the 50– hour simple moving average and the weekly S2 at 0.6770 during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate will likely continue to bullish within this session. The potential target for bullish traders would be at the 0.6801 regions.
However, technical indicators demonstrate that the currency exchange rate could edge lower during the following trading session.
