The Australian Dollar surged by 61 pips or 0.80% against the US Dollar on Tuesday. The AUD/USD currency pair tested a resistance level at the 0.7667 level during Tuesday's trading session.
If the currency exchange rate breaks the resistance line at 0.7663, bullish traders are likely to target the 0.7700 level during the following trading session.
However, if the resistance level as mentioned above holds, a decline towards the weekly pivot point at the 0.7597 area could be expected within Wednesday's trading session.
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