The Australian dollar has been a powerhouse. And no wonder, they are very resource rich country. It appears that currently the AUD/USD is doing a retest of .7900 level .
Near term chart looks quite attractive to me. Up sloping arc trendline showing demand and possible cup and handle?
For now must still consider this strictly a retest of .7900 and make no assumptions. However if arc trendline support holds, then possibility exists of breakout of .7900 level.
the chart is shown below: