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HomeContributorsTechnical AnalysisAUD/USD Pair Broke The 0.7750 Level To Move Into A Positive Zone

AUD/USD Pair Broke The 0.7750 Level To Move Into A Positive Zone

FXOpen
By FXOpen

The Aussie Dollar started a decent increase from the 0.7720 support zone against the US Dollar. The AUD/USD pair broke the 0.7750 resistance level to move into a positive zone.

The pair even gained pace above the 0.7770 resistance level and settled well above the 50 hourly simple moving average. It traded as high as 0.7780 on FXOpen and it is currently showing a lot of positive signs.

If there is a downside correction, the pair might find support near the 0.7770 level (the recent breakout zone). The next major support is near 0.7745, below which the AUD/USD pair could decline towards the 0.7720 support level.

On the upside, the pair is facing resistance near 0.7780. The main resistance is near the 0.7800 level, above which the pair might continue to grind higher towards the 0.7850 level.

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