FXStreet (Córdoba) – AUD/USD broke above 0.7735 and jumped to 0.7776 reaching the strongest level since last Thursday. The pair remains near the highs consolidating gains as it trades above 0.7750.
AUD/USD rebounds from 0.7700
During the Asian session it bottomed at 0.7702, but then reversed and turned to the upside. The rally eased near last week highs that lie at 0.7792. A break higher would open the doors for a test to 0.7800 and 0.7820 (June 3 high).
Greenback weakened in the market during the last hours and pushed the pair to the upside. The aussie is among the top performers on Monday and against the kiwi reached a fresh 2015 high.
AUD/USD technical outlook
The pair is moving with a modest bullish bias, recovering after falling earlier in June to 0.7600. But the upside remains limited below 0.7800. To the downside, a key short term support is located at 0.7700 where a short term uptrend line currently stands, a break lower could change the outlook favoring the US dollar.
(Market News Provided by FXstreet)