The Australian Dollar has continued to trade sideways against the US Dollar. The AUD/USD currency pair was moving within a range of 40 pips during Tuesday’s trading session. The 50-hour simple moving average continued to provide support for the exchange rate at 0.7140. If this 50-hour SMA continues to hold, the currency exchange rate might increase its trading range today. However. If the price passes the 50-hour SMA, a decline towards the 100– and 200-hour SMAs at 0.7060 is a possibility.
