Home Analysis AUD/USD surged after the rally in commodity prices

AUD/USD surged after the rally in commodity prices

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AUDUSD surged after the rally in commodity prices - forexspacex.com

The Australian dollar continues to benefit from the rise in demand for commodities due to the Ukraine crisis. The bulls took control of the price in the last week near the 0.71500 mark and since then, the price is trading higher till day. The AUD/USD gained 0.81% in the last week and has added over 1.5% in value this week so far. Currently, it is trading near the resistance level at the 0.7350 mark which is above the 200-day moving average value of 0.7322. According to financial analysts, the bullish momentum may extend towards the major psychological resistance level at the 0.7500 mark in the next few trading session, if the war continues.

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