The 50– hour simple moving average has guided the Australian Dollar higher against the US Dollar since December 22. The AUD/USD currency pair breached the 0.7620 level during the Asian session on Monday.
All things being equal, the exchange rate is likely to continue to edge higher during the following trading session. The potential target for bulls would be near the 0.7680 level.
However, the weekly resistance level at 0.7653 could provide a barrier for bullish traders within this session.
