The Australian dollar currency is looking increasingly bullish against the US dollar, as the pair consolidates around the 0.7770 price zone. An inverted head and shoulders pattern has form on the lower time frames and is indicating that the AUDUSD pair could rally towards the 0.7900 level. Watch out for a breakout to the upside in the AUDUSD pair if the price trades above the 0.7815 level.
The AUDUSD pair is only bullish while trading above the 0.7770 level, key resistance is found at the 0.7815 and 0.7900 levels.
The AUDUSD pair is only bearish while trading below the 0.7770 level, key support is found at the 0.7750 and 0.7730 levels.
