The Australian Dollar surged by 53 pips or 0.75% against the US Dollar on Monday. The currency pair tested the 0.7160 level during the first part of Tuesday’s trading session.
Technical indicators suggest buying signals on all time frames charts. Most likely, the AUD/USD exchange rate will continue to edge higher within this session. The potential target will be at the weekly R1 at 0.7200.
On the other hand, the currency exchange rate could breach the 50– and 100– hour SMAs at 0.7125 and target the 200– period simple moving average at –.7071 today.
