Australia’s Dollar edged higher by 103 basis points or 1.36% against the US Dollar on Thursday. The surge was stopped by the 100– hour simple moving average at 0.7693 during yesterday’s trading session.
All things being equal, the AUD/USD exchange rate could continue to climb during the following trading session. The potential target for bullish traders would be near the weekly pivot point at 0.7717.
However, the 100– hour SMA could still provide resistance for the currency exchange rate on Friday.
