The Australian Dollar has surged by 45 pips or 0.68% in value against the US Dollar since yesterday’s trading session. The currency pair breached the 50– and 100– hour SMAs since the previous session.
As for the near future, the AUD/USD exchange rate will likely continue to surge. Bullish traders might drive the price towards the 200– hour simple moving average at 0.6760 within this session.
However, the weekly pivot point at 0.6728 could provide resistance for the currency exchange rate during the following trading session.
