During the first half of Tuesday’s trading session, the Australian Dollar surged by 88 pips or 1.36% against the US Dollar. However, the currency pair yielded the earlier gains at the end of the session.
Everything being equal, the exchange rate could edge higher within this trading session. The possible target for bullish traders would be near yesterday’s swing high at 0.6520.
However, given that the currency exchange rate is currently trading near the bottom border of an ascending channel pattern, a breakout might occur during the following trading session.
