The Australian Dollar surged by 36 pips or 0.47% against the US Dollar on Monday. The currency pair breached the weekly pivot point at 0.7651 during Monday’s trading session.
As for the near future, the exchange rate is likely to continue to edge higher. Bullish traders could target the weekly resistance level at 0.7741 during the following trading session.
However, the 200– hour simple moving average at 0.7675 could provide resistance for the AUD/USD currency exchange rate within this session
