AUD/USD analysis: Potential target at 0.7800
AUD/USD
The Australian Dollar has declined by 53 points or 0.68% against the US Dollar since December 31. The decline was stopped by the 50– hour simple moving average at 0.7693 on January 4.
Everything being equal, the AUD/USD exchange rate could edge higher within the following trading session. The potential target for bullish traders would be near the 0.7800 level.
However, the weekly R1 at 0.7770 could provide resistance for the currency exchange rate within this session.
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