AUD/USD analysis: Faces weekly R1

Dukascopy Bank Team Dukascopy Bank SA

AUD/USD

The Australian Dollar has surged by 67 points or 0.96% against the US Dollar on Monday. The currency pair was pressured higher by the 200– hour simple moving average during yesterday's trading session.

Technical indicators demonstrate that the AUD/USD exchange rate could continue to trade bullish during the following trading session. The possible target will be at the 0.7060 level.

However, the weekly resistance level at 0.7046 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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