The AUD/USD stalls at the 0.7700 level

The round number levels are those levels where the price or the quotes end in “00”. These round number levels are very important, because normally when the price reaches those levels the area acts as support or resistance. Even during the cases where the price breaks the round number level, there could still be opportunities to enter the market in the direction of the breakout. That is why in any case we can take advantage of the round number visits.

On the daily chart of the AUD/USD we can see that the pair has reached the 0.7700 round number level and stalls its rally there. That level could act as resistance and the price may try to bounce to the downside. The 0.7500 level could act as support in case the price bounces towards that level. The 55 day EMA stays above the 200 day EMA and it could be indicating that the bullish trend may continue. Above the 0.7700 level, the 0.7800 could act as resistance.