Australia’s currency fell by 56 basis points or 0.74% against the Greenback on Monday. The decline was stopped by the weekly pivot point at 0.7557 during Monday’s trading session.
Technical indicators suggest buying signals on the 4H time-frame chart. Most likely, the AUD/USD currency pair could edge higher during the following trading session. The possible target for bulls would be at the weekly R1 at 0.7653.
However, the resistance level at 0.7620 could provide a barrier for bullish traders within this session.
