The Australian dollar is attempting to recover higher against the US dollar on Friday, due to an improvement in risk-on trading sentiment. The AUDUSD pair has moved back towards the neckline of a notable large head and shoulders pattern on the lower time frames. If bulls force a breakout above neckline resistance, then the AUDUSD pair could rally towards the 0.7700 area.
The AUDUSD pair is only bullish while trading above the 0.7620 level, key resistance is found at the 0.7700 and 0.7730 levels.
The AUDUSD pair is only bearish while trading below the 0.7620 level, key support is found at the 0.7560 and 0.7460 levels.
