AUDUSD Analysis: Reaches six-week high
|AUDUSD
The Australian Dollar continues its neat movement in ascending patterns against the US Dollar. By the end of trading session on Tuesday, the currency pair has reached a six-week high level at 0.7664.
During the first half of Wednesday's trading, the exchange rate made a brief retracement south. However, this decline has encountered a support set by the monthly pivot point at 0.76.
As for near future, the AUD/USD currency exchange rate is likely to continue its movement northward during the following trading session. In addition, technical indicators flash buy signals.
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