The Australian dollar currency is looking more bullish against the US dollar after the pair recovered all of last weeks heavy downside losses. A large bearish head and shoulders pattern failed to be activated last week, despite sellers breaching neckline support. Buying any price dips back towards the 0.7700 level could be a major buying opportunity if a pullback in the AUDUSD pair does occur.
The AUDUSD pair is only bullish while trading above the 0.7700 level, key resistance is found at the 0.7780 and 0.7810 levels.
The AUDUSD pair is only bearish while trading below the 0.7700 level, key support is found at the 0.7680 and 0.7645 levels.
