AUD/USD analysis: Could continue to edge higher

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar edged higher by 87 points or 1.13% against the US Dollar on Tuesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.

All things being equal, the AUD/USD exchange rate could continue to trend higher during the following trading session. Bullish traders are likely to target the 0.7820 level.

However, a resistance level at the 0.7800 area 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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