The Australian Dollar surged by 73 points or 1.02% against the US Dollar on Wednesday. The currency pair breached the upper boundary of a descending channel pattern during yesterday’s trading session.
As for the near future, the exchange rate could continue to edge higher. The potential target for the AUD/USD pair would be near the 0.7320 level during the following trading session.
However, a resistance cluster at 0.7305 could provide a barrier for the currency exchange rate within this session.
