AUD/USD: Set to extend rebound towards 0.7764-0.7777 - Natixis

Analysts at Natixis note that an ascending channel has developed in the daily chart for AUD/USD and the breakout above 0.7485-0.75 (weekly Bollinger moving average) has dealt a major blow to the downward bias in the weekly chart. 

Key Quotes

“Under these conditions, it is very likely the AUD/USD will extend its recovery towards the resistance around 0.7641-0.7657 (upper band of daily Bollinger). A breakout above these levels would open the way towards the resistance levels at 0.7714 (annual Bollinger moving average) and around 0.7764-0.7777 (upper band of weekly Bollinger) and even the psychologically all-important 0.78 level. Supports are located around 0.7485-0.75, around 0.7380-0.74, at 0.73 and around 0.7174-0.7192.”