AUD/USD: Good bullish bounce from the 0.7600 level

The Australian Dollar versus the US Dollar has visited again the 0.7600 level and bounces from it to the upside, but this bounce could be short-lived. The next resistance on the AUD/USD could be the 0.7700 level; however, if the price returns to the 0.7600 level, the probabilities of seeing a breakdown of that level rises, especially if the rumors about a possible rate cut in Australia continue, and if the Greenback strengthens on the back of better than expected US fundamentals.