The Australian Dollar surged by 50 pips or 0.67% against the US Dollar on Wednesday. The currency pair breached the upper line of an ascending channel pattern during the Asian session on Thursday.
By and large, the exchange rate could continue to trend bullish during the following trading session. The potential target for the AUD/USD pair would be near the 0.7612 level.
However, the currency exchange rate might make a brief pullback towards the 50– hour simple moving average at 0.7488 within this session.
