AUDUSD: Holds Above Key Support Lines

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AUDUSD: With AUDUSD continuing to hold above key supports, a move higher is now envisaged. On the upside, resistance resides at the 0.7750 level where a breach will aim at the 0.7800 level.

Below that level if seen will set the stage for a run at the 0.7850 level with a cut through here targeting further downside towards the 0.7900 level. On the downside, support lies at the 0.7646 level.

A cut through here will turn attention to the 0.7600 level and then the 0.7550 level where a violation will set the stage for a retarget of the 0.7500 level. On the whole, AUDUSD continues to retain its broader downtrend pressure.

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