The Australian Dollar surged by 58 points or 0.77% against the US Dollar on Thursday. The currency pair breached the weekly R1 at 0.7610 during yesterday’s trading session.

All things being equal, the exchange rate could continue to edge higher during the following trading session. The potential target for bullish traders would be near the 0.7660.

However, a resistance level at the 0.7640 area could provide resistance for the AUD/USD currency exchange rate within this session.