During the first half of Tuesday’s trading session, the Australian Dollar surged by 104 pips or 1.70% against the US Dollar. However, the currency pair yielded the earlier gains by the end of the session.
Currently, the exchange rate is testing the 50– hour simple moving average support level at 0.6124.
If the 50– hour SMA holds, the AUD/USD pair would continue to trend bullish within this session.
Although, if the currency exchange rate breaks the support level, a decline towards the 0.6050 area could be expected today.
