The Aussie dollar started a decent upward move from the 0.6840 support area against the US Dollar. The AUD/USD pair broke the 0.6860 resistance level to move into a positive zone.
Moreover, the pair settled above the 0.6880 level and the 50 hourly simple moving average. The pair is currently trading above the 0.6900 level on FXOpen and struggling to clear the 0.6910 resistance area.
On the downside, there is a solid support forming near the 0.6900 level and a major bullish trend line on the hourly chart. As long as the pair is above the 0.6900 support, it is likely to climb higher above the 0.6910 and 0.6920 resistance levels in the near term.
If there is a downside break below the 0.6900 support area, there could be a downside extension below the 0.6880 support area. The next major support is near 0.6840.
