The 50– hour simple moving average has been guiding the Australian Dollar higher against the US Dollar since March 6. The currency pair surged by 75 basis points or 1.18% during yesterday’s trading session.
As for the near future, the AUD/USD exchange rate will most likely continue to edge higher. The pair could target the psychological resistance level at 0.6500 within this session.
But, the weekly resistance level at 0.6477 could provide resistance for the currency exchange rate during the following trading hours.
