The Australian Dollar consolidated below the 0.7300 level against the US Dollar during Tuesday’s trading session. The 50– hour simple moving average provided support for the exchange rate on Tuesday.
Technical indicators suggest buying signals on the daily time-frame chart. The currency pair could edge higher in an ascending channel pattern within the following trading session.
However, the weekly resistance level at 0.7363 could provide a barrier for the currency exchange rate during the following trading session.
