AUDUSD extended its bullish movement to as high as 0.7989. Now the pair is facing the resistance of the bearish price channel on its monthly chart at around 0.7900. A clear break above the channel resistance could take price to next resistance level at 0.8150, followed by 0.8450. Near term support is now at 0.7830, only a breakdown below this level will indicate that consolidation of the uptrend is underway, then the following pullback could bring price back towards the bullish trend line on the daily chart.
