The Australian dollar currency is looking increasingly bullish against the US dollar as the commodity-related currency aims towards the 0.8000 level. Lower time frame analysis shows that a powerful breakout from a broadening wedge pattern continues to unfold. AUDUSD pair may buy into any price pullbacks towards the top of the mentioned wedge, around the 0.7823 level.
The AUDUSD pair is only bullish while trading above the 0.7823 level, key resistance is found at the 0.7900 and 0.8000 levels.
The AUDUSD pair is only bearish while trading below the 0.7830 level, key support is found at the 0.7800 and 0.7760 levels.
