AUD/USD Price Analysis: AUD/USD remains above 0.6750; next barrier at upper boundary

• 
  AUD/USD
  may
  test
  the
  upper
  boundary
  of
  the
  ascending
  channel
  around
  the
  level
  of
  0.6785.
• 
  The
  14-day
  RSI
  is
  positioned
  slightly
  below
  the
  70
  level,
  indicating
  potential
  overbought
  conditions
  and
  a
  forthcoming
  correction.
• 
  The
  key
  support
  appears
  at
  the
  lower
  boundary
  of
  the
  ascending
  channel
  around
  0.6675
  level.

AUD/USD
extends
its
losses
for
the
third
successive
day,
trading
around
0.6760
during
the
European
hours
on
Thursday.
The
analysis
of
the
daily
chart
shows
that
the
AUD/USD
pair
consolidates
within
an
ascending
channel,
indicating
a
bullish
bias
in
the
pair’s
price
action.

Additionally,
the
14-day
Relative
Strength
Index
(RSI)
is
positioned
slightly
below
the
70
level,
indicating
confirmation
of
the
bullish
trend
while
also
suggesting
potential
overbought
conditions.
A
breach
above
this
level
could
signal
a
need
for
caution,
possibly
indicating
a
forthcoming
correction.

Furthermore,
the
momentum
indicator
Moving
Average
Convergence
Divergence
(MACD)
line
is
above
the
centerline,
suggesting
upward
price
movement.
Divergence
above
the
signal
line
further
confirms
this
bullish
trend,
as
it
indicates
increasing
positive
momentum.

The
AUD/USD
pair
may
test
the
upper
boundary
of
the
ascending
channel
at
approximately
0.6785.
If
it
breaks
through
this
level,
the
pair
could
target
the
psychological
level
of
0.6800.

On
the
downside,
the
AUD/USD
pair
may
find
support
around
the
lower
boundary
of
the
ascending
channel
at
the
0.6675
level,
with
additional
support
near
the
50-day
Exponential
Moving
Average
(EMA)
at
0.6651.
A
break
below
this
level
could
push
the
pair
toward
the
throwback
support
around
0.6590.

AUD/USD:
Daily
Chart