The Australian Dollar surged by 53 pips or 0.69% against the US Dollar on Friday. The currency pair breached the 50– hour simple moving average during Friday’s trading session.
All things being equal, the exchange rate could continue to surge during the following trading session. The possible target for the AUD/USD pair will be near the weekly resistance level at 0.7741.
However, a resistance level formed by the 200– hour SMA at 0.7687 could provide resistance for the currency exchange rate in the shorter term.
