Invest In Forex

In the last trading week, AUDUSD tried to move up but the pair failed to maintain its bullish run and dropped to 0.7510 level. In the earlier part of the last trading week, the pair edged to 0.7609 level but eventually dropped after touching this resistance level. But the good news for buyers is that the pair trading above the 100 and 200 days daily moving average. We might see some ranging trade in the initial part of the next trading week. The pair might retest the 100 and 200 daily moving average and rebounded from this support level. On the upside, the near tram resistance for this currency pair is at 0.7600 level. If the buyers want to control of the market then buyers need to push the price higher above the 0.7600-7650 area. If this resistance area is broken then we might see a strong bullish run in the market. The next resistance for this pair is at 0.7690 level and if this pair can breach this level then we might see a test of 0.7777 level which is the key resistance level for this currency pair and this resistance level might limit the upside momentum for this pair.