AUDUSD Analysis: Bullish sentiment continues
|AUDUSD
Bullish sentiment dominated the AUD/USD currency pair on Tuesday, thus sending the Australian Dollar to surged 1.03% against the US Dollar. The pair breached the weekly resistance level at 0.7222 during the end of yesterday session.
Given that the exchange rate has moved past the weekly R1, the next potential level for the pair could be the upper boundary of a junior ascending channel and the monthly pivot point at 0.7275.
If and when the currency exchange rate reaches the potential target, the pair could make a temporary retracement towards the weekly resistance level at 0.7222 during the following trading session.
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