AUD/USD Close to Resistance

AUD/USD traded higher in Friday's session going from a low of 0.7492 to a high of 0.7609. The pair is now trading at 0.7611 and is really close to visiting major resistance on the long-term. 0.7650 is seen as resistance and first bull target. If bulls manage to push through that level then we might see the pair going to 0.7680 and then thirdly 0.7840.

On the other hand, a failure to break the first resistance level would activate the bearish momentum and bears will push prices down to first support zone at 0.75. The price consolidated for several days around the 0.75 level and then reacted to the FED's decision to not raise rates. This was the catalyst that drove prices higher. If this effect is mitigated then bearish movement is likely to prevail over the pair.

Chart: AUD/USD D1