AUD/USD Higher

AUD/USD is trading significantly higher in today's session after yesterday uncertain behavior. The pair reached a high of 0.7685 and is now trading at 0.7682. The pair looks very bullish considering the latest rally from 0.68 to 0.7755.

Yesterday's trading was indicative that AUD bulls are not giving up on the ideal to see the Australian dollar gain strength, Bears were unable to pull the price down not for the lack of trying but for the heavy pressure from the bull camp. The pair went to a low of 0.7580 and then started moving higher.

Now we are at minor resistance as this would be the fourth time to attempt a break out at 0.77. If bulls are successful in this endeavor we can be hopeful that AUD/USD is on its way to conquering higher levels with major target at 0.8550.

Chart:
AUD/USD D1