The Australian Dollar surged by 64 basis points or 0.92% against the US Dollar on Tuesday. The currency pair breached the 50-, 100– and 200– hour SMAs during yesterday's trading session.
As for the near future, the AUD/USD exchange rate could continue to edge higher. The potential target for bullish traders would be near the 0.6940 level during the following trading session.
Furthermore, technical indicators demonstrate that bulls are likely to prevail for the rest of today's session.
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