The Aussie Dollar found support near 0.7560 and recently started a fresh increase against the US Dollar. The AUD/USD pair broke the 0.7600 resistance level to move into a positive zone.
The pair even settled above the 0.7600 level and the 50 hourly simple moving average. The pair is now following a rising channel with support near 0.7628 on the hourly chart.
On the upside, the first key resistance is near the 0.7660 zone. A clear break above the 0.7660 level will most likely pump the pair towards the 0.7685 and 0.7700 resistance levels.
Conversely, there could be a downside break below the channel support and 0.7625 on FXOpen. The first major support below 0.7625 is near the 0.7615 level. The main support is forming near the 0.7600 zone and the 50 hourly simple moving average, below which AUD/USD could revisit 0.7560.