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Technical analysis for the AUD/USD, the pair reached the second target of the daily bullish wave, the 1.618 FIB extension at 0.7540. The zone between 0.7540-55 should provide resistance and start a pullback. The first target for this potential pullback for the AUD/USD is the previous high now a support around 7440. The second target is the 0.382 FIB retracement around 0.7400-0.7390. The third target for the AUD/USD is the 0.500 FIB retracement at 0.7350. The fourth target is the 0.618 FIB retracement at 0.7305-10, where there are the daily and the weekly 50 EMAs.
The AUD/USD pair is close to an important level at 0.7616, which is a 0.618 FIB retracement on the monthly chart and the start of bearish run on the weekly chart. If the AUD/USD breaks above 0.7616 that will resume the bullish wave on the monthly chart and send the pair higher. The first target for such a bullish breakout for the AUD/USD is the resistance around 0.7770. The second target is at 0.8000.
Daily chart:
Weekly chart:
