The Asian session on Thursday saw the Australian dollar rise again against the US dollar following Australian trade surplus data published at more than A $ 10 billion was the record high.
This has supported the bullish rise on the AUD / USD currency pair chart in the Asian session after the price showed a decline in previous sessions.
On Wednesday's trading, the price was seen hovering above the resistance level of 0.78300 before experiencing a decline pressed by the strengthening of the US dollar in the market.
The price signals the downside trend after moving lower below the Moving Average 50 (MA50) support level in the 1 hour time frame of the price movement.
In the Asian session this morning, the decline was seen to continue at the beginning of the session, but prices began to rebound in the Australian economy.
Prices remained bullish until the opening of the European session with the MA50 dynamic barrier tested and headed towards the resistance zone yesterday.
If the price manages to continue rising higher, the next resistance zone at 0.79000 needs to be released before heading to the high of 0.8000 reached last week.
On the other hand, yesterday's continuing price decline will test the support zone around 0.77400 again before continuing the decline to the lower support level at 0.76500.
The momentum of the strengthening of the US dollar is likely to slow following cautious investors ahead of the US NFP employment data report over the weekend.
