The Australian Dollar has appreciated about 2.54% in value against the US Dollar since September 3. The currency pair tested a one-month high level at 0.6861 during Friday’s trading session.
As for the near future, the AUD/USD exchange rate will most likely continue its upside movement until it reaches a resistance level formed by the weekly R1 at 0.6907.
If the resistance level holds, a brief retracement towards the monthly R1 at 0.6842 could be expected in the shorter term.
