AUD/USD: bulls revving up to break above key resistance

RBA leaves official rate at record low

The Australian dollar jumped higher overnight during US session, inspired by the dovish comments by the US Federal Reserve chairwoman Janet Yellen.

The signal was received by the market as slow rate hike, and possibly no rise before June.

The pair hit 0.7649 during Asian session before easing to 0.7615-0.7630 range.

With the break of minor resistance at 0.7649, bulls have to knock 0.7680,  the 17th March high as a target, to open the path for above 0.77. There is very little resistance around this level after 0.7689.