Australia’s currency surged by 31 pips or 0.39% against the US Dollar on Monday. The currency pair tested the upper line of an ascending channel pattern at 0.7803 during Tuesday’s trading session.
The exchange rate will most likely make a brief pullback towards the weekly pivot point at 0.7727 during the following trading session.
However, the 50– hour simple moving average at 0.7767 could provide support for the AUD/USD currency exchange rate within this session.
