21 Aug AUDUSD outlook: Further upside potential seenAustralian Dollar / U.S. DollarFOREXCOM:AUDUSDChartingGenieAUDUSD broke above the ascending channel, maintaining a sequence of higher highs and higher lows. A sustained break above 0.7200 could strengthen bullish momentum and open the way towards the next resistance around 0.7271. Conversely, a rejection from the current resistance zone could trigger a pullback towards 0.71329, which is an important support level and sits close to the upper boundary of the ascending channel. A break below this area may prompt a deeper correction toward the next support at 0.70670. The reaction around 0.7100–0.71329 will be key in determining whether the pair can extend its advance or enters a deeper pullback. By Li Xing Gan, Financial Markets Strategist Consultant to Exness