FXStreet reports that the Credit Suisse analyst team notes that the AUD/USD pair saw another positive session on Monday, breaking above the crucial resistance area at 0.7683/7704, negating the small top to suggest further near-term strength, with key resistance seen initially at 0.7782.

“With a bullish ‘reversal day’ in place and daily MACD momentum also about to turn higher again, we look for further near-term upside, with immediate resistance seen initially at 0.7731. Beyond here would see a move back to 0.7764/70, removal of which would negate the bearish ‘reversal day’ and expose 0.7782, where we would expect to see fresh sellers at first.” 

“Support moves initially to 0.7694, then 0.7651, beneath which would ease the immediate upside pressure and see a move back to 0.7610/01, where we would expect to see a first attempt to hold. Removal of here though would expose Friday’s low at 0.7583.”