The Australian Dollar surged by 60 pips or 0.79% against the US Dollar on Monday. The currency pair breached the weekly resistance level at 0.7714 during the Asian session on Tuesday.
All things being equal, the exchange rate is likely to continue to trend bullish during the following trading session. A breakout through the upper line of an ascending channel pattern could occur.
However, the weekly resistance level at 0.7753 could provide resistance for the currency exchange rate within the following trading session.
