Review and dynamics
On the daily and weekly charts the pair AUD/USD remains in ascending channel.
On weekly chart the pair is in the ascending channel with the upper limit near the level of 0.7960 (ЕМА144 on the weekly chart).
The pair is traded above support levels of 0.7630 (ЕМА50 ЕМА200 on the daily and 4-hour charts) and 0.7540 (ЕМА200, ЕМА144 and the lower line of the ascending channel on the daily chart). Currently, the pair is at the important level of 0.7700.

Our opinion
In the case of breakout of the level of 0.7700 the target will be at the level of 0.7750 (the upper limit of the ascending channel on the daily chart).
On the daily, weekly and monthly charts the indicators OsMA and Stochastic give signals for long positions.

The Australian dollar continues to be in high demand among investors seeking stable income, especially among those who prefer buy orders and "carry-trade" strategies (interest rate in Australia is 1.5%, which is the highest among the countries with the advanced economies).

In case of breakout and consolidation above the level of 0.7750, it is likely that the pair will continue to rise up to the levels of 0.7820 (Fibonacci 38.2% and highs of April), 0.7960 (ЕМА144 on the weekly chart), 0.8130 (Fibonacci 50.0%), or 0.8200 (ЕМА200 on the weekly chart).

In case of an alternative scenario, the pair may break down support level of 0.7630 and continue to decline to the level of 0.7540. Breakdown of the support level of 0.7445 (Fibonacci 23.6% after the decline since July 2014) may change the uptrend in the pair AUD/USD. In this case the pair may reach support levels of 0.7325, 0.7140 (lows of May).

Support levels: 0.7700, 0.7630, 0.7540, 0.7445, 0.7325, 0.7290, 0.7200 and 0.7140.
Resistance levels: 0.7750, 0.7820, 0.7900 and 0.7960.

Trading tips
Sell on the market. Stop-Loss: 0.7760. Take-Profit: 0.7630, 0.7600, 0.7540, 0.7500 and 0.7445.
Buy Stop: 0.7770. Stop-Loss: 0.7730. Take-Profit: 0.7800, 0.7820, 0.7900 and 0.7960.

AUD/USD: the pair is in the ascending channel. Technical analysis for 08/11/2016.
In the ascending channel

AUD/USD: the pair is in the ascending channel. Technical analysis for 08/11/2016.
At the level of 0.7700

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