AUDUSD failed to break above 0.7778 resistance

AUDUSD failed to break above 0.7778 resistance again and pulled back to 0.7600 area, indicating that lengthier consolidation for the uptrend from 0.7158 is needed. However, as long as the pair stays above 0.7490 support, another rise to retest 0.7778 resistance is still possible. On the downside, a breakdown below 0.7490 support will indicate that the uptrend from 0.7158 is complete, then the following downward movement could bring price back to 0.7200 zone.