The Australian Dollar surged by 32 pips or 0.42% against the US Dollar on Monday. The surge was stopped by a resistance cluster at the 0.7630 area during Monday’s trading session.
All things being equal, the exchange rate is likely to continue to edge lower during the following trading session. The potential target for the AUD/USD pair will be near the 0.7560 level.
However, a support line at 0.7592 could still provide support for the currency exchange rate in the shorter term.
