Home Analysis Australian dollar is testing the major resistance level at 0.7500 mark

Australian dollar is testing the major resistance level at 0.7500 mark

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Australian dollar is testing the major resistance level at 0.7500 mark - forexspacex.com

The Australian dollar consolidated the gains from the previous session last week. The AUD/USD pair performed exceptionally well by gaining 2.76% in February and 3.05% in the month of March. The Australian dollar is the best performing major currency and may climb the 0.76000 mark Against the US dollar in the next month. The surge in commodity and energy prices amid the Russia-Ukraine war boosted the demand for commodity-rich currencies like the Australian dollar. The AUD/USD is trading well above the 9-day and 18-day Exponential moving average, indicating a bullish bias in the market. Therefore, one must look for potential buying opportunities in AUD/USD after a major pullback.

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