The AUDUSD is foreseen to take a bullish route in the coming exchanges as the price has maintained its position atop the 1.0082 support level. The bulls have seemingly resurged to open the new week as the price, after closing at the 1.0078 mark last Friday, opened trades at the 1.0126 level earlier this morning. The pair has also set a one-month high of 1.0133 earlier, suggesting the underlying strength of the bulls. Likewise, the price continues to traverse within the bullish channel that began lifting the pair from the 0.9579 low last June 1.

Observing the 30-minute chart, price action is seemingly correcting just above the 1.0082 support mark, but the EMA(45) and EMA(60) are providing support marks to the price, potentially limiting any attempts to the downside. With both lines still below the latest candlesticks, a bullish resumption is foreseen. Such view is being supported by the Stoch(5,3,3) as its %K and %D lines are already approaching the oversold territory. Once both lines enter the oversold threshold, expect the price to resume its incline. Finally, the MACD(12,26,9) is still depicting the underlying strength of the bullish force as its signal line and histogram remain lengthy within the positive territory. With the bullish forces still strong, the price is likely to maintain its price trek in the coming hours.

Risk-on trades are presumed to weaken the US dollar opposite the commodity-linked Australian dollar in the coming exchanges as the markets receive relief after the closely-watched Greek elections resulted in a victory for the pro-bailout New Democracy party. With fears of an imminent exit of Greece from the monetary union declining, risk appetites are seen to improve, warranting a long position for the Aussie-Greenback trades this week.