The bullish momentum prevailed in the market on Tuesday, allowing the AUD/USD currency pair to surge towards a swing high at 0.6790.

The exchange rate tested a support cluster formed by the 50-, 100– and 200– hour SMAs at 0.6776.

If this support cluster holds, a surge towards a resistance level formed by the weekly R1 at 0.6824.

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On the other hand, the currency exchange rate might reverse from the current price level at 0.6786 and trade south for the remainder of today’s trading session.

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