The Australian Dollar skyrocketed by 115 pips or 1.75% against the US Dollar on Tuesday. The currency pair breached the weekly resistance level at 0.6629 during yesterday’s trading session.
As for the near future, the AUD/USD exchange rate is expected to make a pullback towards the 50– hour simple moving average at 0.6589 during the following trading session.
However, the weekly R1 at 0.6629 could provide support for the currency exchange rate within this session.
