The Australian Dollar edged higher by 87 points or 1.13% against the US Dollar on Tuesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday’s trading session.
All things being equal, the AUD/USD exchange rate could continue to trend higher during the following trading session. Bullish traders are likely to target the 0.7820 level.
However, a resistance level at the 0.7800 area could provide resistance for the currency exchange rate within this session.
