AUD/USD is trading at 0.7569 at the time of writing and it seems strong enough to hit fresh new highs. The greenback continues to depreciate versus all its rivals as the US Dollar Index resumes its sell-off.

USD drops despite better than expected US inflation data. The CPI and the Core CPI rose by 0.2%, beating the 0.1% growth expected. The current week could be crucial for the dollar as the Federal Reserve will release the Federal Funds Rate.

The FOMC Statement and the FOMC Press Conference may cause a shock as the traders and investors are expecting new stimulus measures.

AUD/USD Towards New Highs!

AUD/USD resumes its upwards movement as expected after a temporary decline. Technically, the bullish momentum was natural after registering the valid breakout from the minor up channel.

The aggressive breakout through the Pivot Point (0.7491) signals further growth at least till the R1 (0.7610). The first warning line (wl1) could be used as an upside target as well. A valid breakout through these immediate obstacles should offer us another bullish signal.

• AUD/USD Trading Conclusion

The bullish bias remains intact as long its stays above the upper median line (uml). Passing and stabilizing above the warning line (wl1) and beyond the R1 (0.7610) means that AUD/USD should continue to increase towards 0.77.