AUD/USD - Outlook & Update

I decided to re-do my analysis for this pair and here's what I've come up with for the time being. From the pairs big downfall price has been trying to get above the 0.79890 zone time and time again and has not succeeded once which has resulted in very strong bearish pin drops on the weekly chart. This paired with the ascending channel that has been in formation since 2016, we can expect a bullish breakout. At the minute price is in a general downtrend and unless we break it, I think we could reach lows of 0.73304 before retesting and possibly breaking 0.79890.

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