AUD/USD analysis: Breaks resistance at 0.7430

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

On Tuesday, the Australian Dollar rose by 77 pips or 1.04% against the US Dollar. The AUD/USD currency pair breached the resistance level at 0.7432 during yesterday's trading session.

All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders will be near the 0.7540 level.

However, the upper line of an ascending channel pattern could provide resistance for the currency exchange rate within this session.

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Dukascopy Bank Team

Dukascopy Bank SA

Dukascopy Bank stands as an innovative Swiss online banking institution, with its headquarters situated in Geneva, Switzerland.

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