Upside risks have been dominating the Australian Dollar against the US Dollar since yesterday’s trading session. The currency pair skyrocketed by more than 130 basis points or 1.89% on Tuesday.
All thing being equal, upside risks could continue to pressure the AUD/USD exchange rate higher within this session. The potential target for bullish traders will be at the 0.7200 level.
However, the weekly resistance level at 0.7163 could still provide resistance for the currency exchange rate today.
