The Australian Dollar jumped by 37 pips or 0.48% against the US Dollar on Tuesday. The currency pair breached the weekly resistance level at 0.7714 during yesterday’s trading session.
Everything being equal, the AUD/USD exchange rate could continue to surge within the following trading session. The possible target for buyers would be near the 0.7800 level.
However, the weekly R2 and the upper line of an ascending channel pattern could provide resistance for the currency exchange rate within Wednesday’s trading session.
