On the hourly chart of AUD/USD at FXOpen, the pair started a fresh increase above the 0.6650 resistance. The Aussie Dollar traded above the 0.6670 resistance before the bears appeared.
The pair tested the 0.6970 zone before there was a bearish reaction. There was a move below the 0.6670 support. However, it is still above the 50-hour simple moving average. There is also a key bullish trend line with support at 0.6650.
If there is a move below the trend line support, the pair could decline toward 0.6630. Any more losses might send the pair toward the 0.6595 support.
On the upside, the first key resistance is near 0.6670. If there is an upside break above the 0.6670 zone, the pair could rise steadily toward the 0.6700 level. Any more gains might send AUD/USD toward 0.6740.
