AUDUSD Watching trendline resistance
The Australian dollar has found strong resistance from the 0.7660 level against the US dollar, after staging a one-hundred point recovery from the 0.7560 level. The AUDUSD pair is currently being capped by key trendline resistance on the four-hour time frame, which now comes in around 0.7670. Continued weakness below the trendline and the AUDUSD pair is likely to revisit the 0.7620 support level.
The AUDUSD pair is only bullish while trading above the 0.7620 level, key resistance is found at the 0.7667 and 0.7700 levels.
The AUDUSD pair is only bearish while trading below the 0.7620 level, key support is found at the 0.7560 and 0.7450 levels.