AUDUSD Need break 0.7400 for longer term bullish for target 0.8000

AUDUSD long term down in last year. Downtrend started from February 2018 from 0.8120. In 2019price traded between 0.7300-0.6700. Price broke strong support area 0.6700-0.6680 in February 2020 due to corona pandemic.

USDollar suspect longer term weak for months and years, while AUD & NZD suspect bullish trend ahead against usd dollar.

Inverted Head & Shoulder pattern formed on weekly chart. Right shoulder sitting above than the left shoulder that’s why sloping neckline formed. 0.7380-0.7400 neckline resistance area. There is high probability it will break soon then next bullish target will be 0.8000 area.

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Resistances: 0.7390, next level 0.7480 , 0.7800 and 0.8000

Supports: 0.7160, 0.7030 should hold to maintain bullish trend. Last one support 0.6990 of last week low.