The 50-hour simple moving average has been guiding the Australian Dollar higher against the US Dollar. The SMA provide support for the currency pair at 0.7156 during Wednesday’s trading session.
As for the near future, it is possible for the currency exchange rate continues its upside momentum. Bullish traders could push the pair towards a resistance level at 0.7246 today.
However, this upside prediction could only occur if the 50-hour SMA continues to hold during the following trading session.
