The Australian dollar is correcting the losses from previous sessions on Thursday morning in Asia. The momentum indicators are in the neutral zone for the time being with the relative strength index indicator hovering around the 40 levels. The chances of price breaking above the current range are limited as investors are waiting for the major economic data set to be released this week. The AUD/USD pair has formed a short-term ascending pattern on the hourly chart. Watch out for the nearest resistance level at the 0.68200 mark, if bulls succeed in taking this level, then the pair may expand towards the 0.68500 level.
