AUD/USD analysis: Could edge higher

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar has surged by 78 basis points or 1.10% against the US Dollar since Friday's trading session. The currency pair breached the 50– and 100– hour SMAs on Friday.

All things being equal, the exchange rate could continue to edge higher within this session. The possible target for bullish traders would be at the weekly resistance level at 0.7200.

Furthermore, technical indicators demonstrate buying signals on the 4– hour time-frame chart.

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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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