The Australian Dollar surged by 87 pips or 1.29% against the US Dollar on Monday. The currency pair breached the weekly R2 and the monthly R1 at 0.6792 during yesterday’s trading session.
Everything being equal, the exchange rate could slide lower during the following trading session. Sellers might target the support level at 0.6725.
However, technical indicators demonstrate that the currency exchange rate could continue its bullish momentum within this session. Potential target will most likely be at the 0.68840.
