The Australian Dollar surged by 58 pips or 0.78% against the US Dollar on Monday. The currency pair breached the 50– hour simple moving average during yesterday’s trading session.
The exchange rate is likely to continue to edge higher during the following trading session. The potential target for bullish traders would be near the weekly resistance level at 0.7642.
However, a resistance line at 0.7550 could provide resistance for the AUD/USD currency exchange rate within this session.
