The AUD/USD exchange rate rebounded during yesterday’s trading session. As a result, the Australian Dollar surged by 113 pips or 1.51% against the US Dollar on Monday.
Everything being equal, the currency pair could continue to edge higher during the following trading session. Bullish traders might target the 0.7640 level today.
However, a resistance cluster formed by the 50– and 100– hour SMAs and the weekly pivot point at 0.7588 could provide resistance for the currency exchange rate within this session.
