The Australian Dollar surged by 60 basis points or 0.81% against the US Dollar on Tuesday. The 100– hour simple moving average pressured the currency pair higher during yesterday’s trading session.
All things being equal, the exchange rate is likely to continue to edge up during the following trading session. The possible target for bullish traders would be near the 0.7640 area.
However, the weekly R1 at 0.7610 could provide resistance for the AUD/USD currency exchange rate within this session.
