The Australian Dollar appreciated by 55 pips or 0.82% in value against the US Dollar on Tuesday. The currency pair breached the 100– and 200– hour SMAs during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate will most likely continue to edge higher. A breakout through the upper boundary of a descending channel pattern could occur within this session.
Although, the weekly resistance level at 0.6742 might provide resistance for the currency exchange rate during the following trading session.
