During the early hours of trading on Wednesday, the Australian Dollar surged by 49 basis points against the US Dollar. However, the currency pair gave up the earlier gains at the end of yesterday’s trading session.
The exchange rate will likely continue its bullish momentum within the following trading session. The AUD/USD pair could target a resistance level formed by the monthly pivot point at 0.6795.
Although, the currency exchange rate could make a brief downside retracement towards the weekly pivot point at 0.6728 during the following trading session.
