The Australian Dollar has surged by 57 pips or 0.88% against the US Dollar since Friday’s trading session. The currency pair tested April 30 swing high at 0.6560 during the Asian session on Monday.
Everything being equal, the AUD/USD exchange rate could make a brief pullback towards the 50– hour simple moving average at 0.6507 during the following trading session.
However, technical indicators suggest on the 4(H) time-frame that bullish traders would continue to pressure the currency exchange rate higher within Monday’s session.
